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  • 10 years ago
Billions in Bogus Bonuses?

Billions in Bogus Bonuses?

With this week's swearing-in of Treasury Secretary Tim Geithner, President Obama's economic team is finally ready to tackle the massive challenge before them. One big question: how much control will they wield over America's banks, the first recipients of the federal bailout? David Brancaccio sits down with financial reporter Bethany McLean -- who broke the Enron story -- to look at options on the table for stabilizing the country's financial system. If banks are nationalized, it will have an enormous impact on depositors, shareholders and taxpayers. Everyone agrees that our banks need federal money to avoid even more calamity, but how much is too much, and who's watching how they spend it?