The idea that anyone on Wall Street deserves anything but 40 lashes in the way of pay is a not-uncommon view these days. Speaking about some $165 million in bonuses AIG awarded to employees after the company received $170 billion in federal funding, Rep. Barney Frank, D-Mass., said it was "almost extortion, where they said, 'We know what you need to know and we will quit if you don't bribe us.' " The Street is in such dismal shape, why would anyone who still works there need a bonus to stay on board?

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