Gee, Didn't See This One Coming

Nice work by dealbreaker! Bank of America (BAC) is going to get around this nasty "bonus" issue by significantly raising salaries! It was only a matter of time. You have to keep in mind that the geniuses in the financial services industry that created products of mass destruction that went unregulated can probably outsmart anything that Congress can enact. Good try Congress, any other ideas?

Goldman Sachs (GS) ain't stupid so they played it cool on executive comp in todays proxy release. Mr Blankfein's comp was down 98% from last year, seems a little extreme given that Goldman Sachs was "only" off about 60% in 2008 - at least they didn't go under. So if Goldman is the first to pay back TARP, does Blankfein get some bonus action?