Washington Post Reports on How Top Execs at Bankrupt Companies Get Large Bonuses

The Post had a nice piece reported on how the top executives of major companies that went into bankruptcy were able to get large bonuses. As the piece points out, the bonuses are not tied to performance outcomes, like getting the companies out of bankruptcy in a specific time frame. Of course, ordinary workers at these companies are not so lucky, with many being laid off with little or nothing by way of severance pay.

While the piece does not make this point explicitly, these sorts of payouts to...