Wall Street Bonuses Ripe for Tea Party Rage

Big finance could face populist pitchforks
By Jane Yager,  Newser Staff
Posted Jan 12, 2010 6:04 AM CST
FILE - In this Sept. 25, 2008 file photo, Dara Blumenthal, of Brooklyn, holds up a sign during a rally against Wall Street bailout in front of the New York Stock Exchange in New York.   (AP Photo/Mary Altaffer, file)
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(Newser) – Bailed-out Wall Street execs handing themselves hefty bonuses this month should prepare for outrage not only from Dems inside the Beltway but from tea partiers, who hold their first convention in Nashville next month. The rage that has been focused on big government and health care reform could easily swing toward Wall Street, Gerald Seib writes in the Wall Street Journal.

The tea party movement is rooted in "mistrust of big institutions in general," Seib writes.
"It's a short leap from anger at Washington's spending of taxpayer dollars to anger at Wall Street executives saved by those same taxpayer dollars." Both left and right have already shown signs of revolt against financial institutions. Arianna Huffington is urging people to yank their money out of big banks, while a GOP rep is alleging there was a plot to withhold the fact that bailout money paid to AIG went directly to several banks that were AIG debt holders.

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