Blowback on Bonuses?

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Monday, January 11, 2010

It's bonus week on Wall Street and the banks are set to give out huge payouts. Now that banks are getting out from under government restrictions, companies are getting more freedom to pay executives more money. But how will the American public react to these windfall bonuses?

Bank Bonus Week Begins

Main Street may be fed up with Wall Street's apparent gluttony, but banks are once again awarding huge bonuses. The nation's biggest banks, including Goldman Sachs and Citigroup, are expected to pay some employees year-end bonuses reaching into eight-digit sums.  These staggering amounts may irritate the American public, which is still feeling the effects of the recession... but does the public's ire matter? We speak with Eric Dash, who reported on this for The New York Times, and Dan Ariely, professor of behavioral economics at Duke University and author of “Predictably Irrational: The Hidden Forces That Shape Our Decisions.”

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Takeouts: Sen. Reid's Gaffe, Cardinals Top Packers, Cold Weather

  • Washington Takeout: Washington correspondent Todd Zwillich on how comments by Senate Majority Leader Harry Reid (D-Nev.) from 2008 could hurt him in 2010.
  • Sports Takeout: Sports contributor Ibrahim Abdul-Matin discusses last night's highest scoring playoff game in NFL history, in which the Arizona Cardinals overcame the Green Bay Packers in overtime, 51-45.
  • Weather Takeout: For much of the past couple weeks much of the country has been shivering as frigid temperatures sweep through, especially down south and in Florida where it has affected crops, tropical fish and other wildlife that have had to be saved from frigid waters. Robert Oravec, from the National Weather Service, joins us to look at how much more of the deep-freeze to expect.

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The Week's Agenda with Marcus Mabry and Rob Watson

The New York Times' Marcus Mabry and the BBC's Rob Watson join us to look ahead to what's coming up this week: diplomatic developments with North Korea, a brouhaha over comments Sen. Harry Reid (D-Nev.) made in 2008 about then-candidate Obama, and a federal court begins hearing a challenge to Proposition 8, which explicitly denies same-sex couples from marrying in California.

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Riding Pantsless Around the Globe

Yesterday was International No Pants Day, though you'd be hard-pressed to find it printed on any official calendars. With 16 countries and 44 cities participating, thousands of people boarded subway systems around the world to pull off one of the biggest annual pranks by taking off their pants. (Note: everyone wore underwear.)  We talk with Improv Everywhere's senior agent Alex Scrodelis about the 9th annual “No Pants Subway Ride,” in which close to 3,000 New Yorkers participated and cities as far off as Zurich, Australia, Argentina and Spain all saw pantsless pranksters riding public transportation.

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Share and Share Alike: Can Parenting Ever Be Equal?

Can parenting responsibilities ever be divided truly equitably? If so, do you have to be well-to-do to make it happen? Takeaway contributor and New York Times 'Motherlode' blogger Lisa Belkin talks about equally shared parenting – the benefits, the drawbacks and logistics.

And real-life couple Marc and Amy Vachon – who wrote the new book "Equally Shared Parenting: Rewriting the Rules for a New Generation of Parents" – talk about the joys and frustrations of sharing all the responsiblities that come with running a home and raising a family.

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Sen. Harry Reid Sets Off Race Discussion with 2008 Remarks

In "Game Change," a book about the 2008 presidential campaign being released today, the authors report that Nevada Sen. Harry Reid's

encouragement of Obama was unequivocal. He was wowed by Obama's oratorical gifts and believed that the country was ready to embrace a black presidential candidate, especially one such as Obama – a "light-skinned" African American "with no Negro dialect, unless he wanted to have one," as he said privately. Reid was convinced, in fact, that Obama's race would help him more than hurt him in a bid for the Democratic nomination.

Reid's words have drawn a flurry of criticism from RNC Chairman Michael Steele and other politicians who compare the statement to Sen. Trent Lott's 2002 assertion that if the country had voted for segregationist Dixiecrat Strom Thurmond in 1948, "we wouldn't have had all these problems over the years." Here to help unpack coded racial statements and point out those sitting in plain view are Omar Wasow, contributor to The Root, and Ta-Nehisi Coates, senior editor for The Atlantic, and author of “The Beautiful Struggle: A Father, Two Sons, and an Unlikely Road to Manhood.”

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Takeouts: Jobs, NFL Wildcards, Listeners on Reid and Race

  • Money Takeout: On Friday we looked at how painful job losses have been in the past two years. Today we ask Dan Gross, senior editor and finance expert at Newsweek, to update us on the jobs gained so far in 2010.
  • Sports Takeouts: Sports contributor Ibrahim Abdul-Matin reviews the NFL's weekend wildcard playoff games.
  • Listeners' Takeout: Responses to stories on airline security, racial profiling, and discussions inspired by Sen. Harry Reid's 2008 comments.

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Detroit Auto Show Features Greener, Cleaner Cars

The North American International Auto Show kicks off in Detroit today and big car companies will be featuring green vehicles and focusing on electrification.  We talk with Jim Motavelli, blogger for The New York Times and author of "Forward Drive: The Race to Build "Clean" Cars for the Future," about the supposed end of the V-6 era. Also joining us is Eddie Alterman, editor-in-chief of Car and Driver, to discuss changing times in the auto world.

Read Jim Motavelli's post in The New York Times, "Detroit Auto Show: A Green Preview."

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Prop 8 Fight Goes to Federal Court

The fight over gay marriage resumes in California today with Perry v. Schwarzenegger ... and you may be able to watch it on YouTube, tonight.  Two same sex-couples are suing the enforcers of California's Proposition 8 on grounds that the gay marriage ban violates their federal constitutional rights. This might lay the groundwork for an appeal to the U.S. Supreme Court. The trial will be the first federal court case in the U.S. to be broadcast on YouTube. Kenji Yoshino, professor of law at New York University, has been following the case.

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Women in Aviation: 75 Years After Amelia Earhart's Pacific Flight

Today marks the 75th anniversary of Amelia Earhart’s successful flight from Honolulu to Oakland, California.She was the first woman to fly solo across the Pacific.  To help update the history of women in aviation we talk to another pioneer who has also participated in many firsts for women pilots: Major Nicole Malachowski is a senior pilot in the Air Force and just five years ago became the first woman to join part of the elite Thunderbird squad, also known as the Air Force Aerial Demonstration Squadron.

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