Fat Cats First

A good summary:

• Washington Post article
• Fat Cats First
  
• Looking back on the wreckage of the Bush era, there is one undeniable bright spot: It's been a very good time to be a fat cat. A consistent result of virtually every major Bush policy, from tax cuts to war, has been to enrich the already wealthy. The pinnacle of Bush's legacy may turn out to be a $700 billion bailout of the high-flying Wall Street firms that made enormous fortunes -- and rewarded themselves with billions in bonuses-- leveraging risky mortgage-backed assets. Now that those firms are in deep trouble, the Bush administration wants taxpayers -- many of whom are facing their own financial troubles -- to come to the rescue. And, in case there's any doubt that it's fat-cats-first with this White House, the news today is that Bush aides are balking at moves that would require companies accepting bailouts to cap executive pay, or give taxpayers equity for their contributions.