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Best Web OpEds 3/9/2009 at 4:50 PM EDT

On the Origin of Bankers' Giant Bonuses

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Margaret Bassett

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Bankers prefer the elephant seal theory: the humongous bonus packages are essential to attract top executives who otherwise would be nabbed by a rival. Bailed-out bankers grumble that the pay caps imposed by the Obama administration will allow better-financed hedge funds to swoop down and poach the best from their ranks.

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Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.

Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.

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