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Of bailouts and bonuses

Friday, January 30th, 2009

My brother works in the Chicago office of a New York financial services firm, one of several that have received funds from the Big Bailout, a.k.a the Troubled Assets Recovery Program.

For months he’s been increasingly downbeat about the nation’s economic outlook and about his job in asset management, the decisions for which have been largely taken out of his hands and reassigned to some muckety-muck in New York.

So when I heard he was up for a job review, I held my breath. With heads rolling all over the country, his job security didn’t sound all that great. I frankly expected the worst. (more…)