More signs of backlash

We've been talking about the need for banks to be sensitive about the likelihood of a public backlash, as they bonus seasons rolls on. But the fact is that the backlash has already started--in Washington and on Main Street. You have to wonder what good a PR campaign is at this point.

Goldman Sachs (GS) has apparently delayed delivering news of the bonuses in the U.K. in part because of the possible PR fallout. But you have to wonder what good a delay will do. One indication of the on-going backlash comes from the pen of Allan Sloan, the erstwhile columnist who thinks banks should have had to acknowledge the public largesse by having the sense not to pay bonuses of more than six digits--hey, its worker bees need money in order to survive in the high-cost New York City area--and should make a nice voluntary contribution to the government. He goes on to advocate breaking banks into the categories of safe banks and gunslinger banks; the gunslinger banks would be allowed to fail. 

For more:
- here's the commentary via Fortune

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