Agree 100%. I think these stories ("the talented people will leave without big bonuses") are a bluff to distract us from the fact that people have actually been saying for a long time (long before 2007) that executive comp was out of control and essentially raiding companies from shareholders. Turns out all those folks were right, at least in the case of the investment banks.
Think about that... what's the next step, now that we've apparently established (as a nation) that Congress can "claw back" the recent bogus bonuses.
Well, it turns out that the folks who have been signing all those SEC filings for the last decade have been taking billions out of their companies _knowing_ that the balance sheets were bogus. And it's time to get those billions back. (Which happen to be stashed in secret bank accounts of course. But we're taking care of that, too.)
Sounds like a very possible next step to me... I doubt it will fly, but I bet it gets floated.
Maybe money trickles down, but justice trickles up. :-)
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