Can't give exorbitant bonuses to bankers on the taxpayers dime? How about raising base salaries instead? Bloomberg reports:
"Bank of America, which has received $45 billion of taxpayers’ money, may raise the annual base pay for some managing directors to about $300,000 from $180,000, said the people, who declined to be identified because the final numbers are still under discussion. Salaries for less-senior directors would climb to about $250,000 from $150,000, and vice presidents would get $200,000, up from about $125,000, the people said."
I'm sure this will sit well with the public:
“We’re in an economic downturn, the government is pouring billions into banks, and these guys are boosting their salaries,” said Jason Kennedy, chief executive officer of London-based recruitment firm Kennedy Associates. “There’s an issue of public perception.”