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Bailout Working So Far

4:10 PM -- The economic news is not all gloom and/or doom. Bloomberg.com has the headline: "Broken Securities Industry Still Has $20 Billion to Pay Bonuses."

    Five straight quarters of losses and a 70 percent slide in its stock this year haven't stopped Merrill Lynch & Co. from allocating about $6.7 billion to pay bonuses.

    Goldman Sachs Group Inc. and Morgan Stanley, both still on track for profitable years, have set aside about $13 billion for bonuses after three quarters, down 28 percent from a year ago. Even some employees at Lehman Brothers Holdings Inc., which declared the biggest bankruptcy in U.S. history last month, will get the same bonus they received a year ago.
Hey: You've got to reward success. They've milked us for $700 billion, so far. $20 billion is chump change.

— Larry, Attack Monkey, Light Reading

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