Salaries and Bonuses? What?

Yesterday, the New York Times reported that banks and other financial institutions are returning to salary and bonus levels found in 2007.  Apparently, these institutions feel they are out of the financial mess they created!

Being blunt about this, this news is like hearing people on welfare get to set their own monthly payments.  While some of these financial institutions may be beginning to do well, they are certainly making profits only because of federal assistance whether it is Troubled Asset Relief Program money, the zero percent interest they are paying for borrowing money from the Federal Reserve or the reluctance by Congress to pass legislation which will restrict the usurious interest rates and lending practices established by banks.  Our financial institutions are the 21st Century version of welfare queens.

Apparently tomorrow there are going to be protests at Bank of America branches through out the country, asking for Ken Lewis's resignation.  We need more than that.  Congress has got to step up and enact legislation that regulates this industry and stand strong against their numerous lobbyists trying to quash the cram down revisions to the Bankruptcy laws.  Enough is enough.  

And what, just what are these salaries going for?