While the Congress debated the terms and conditions for the Wall Street bailout, Secretary of Treasury Henry Paulson included a $140 billion tax break for banks in the package without oversight. The legality of the move is now questioned as Senator Bernie Sanders, (I), Vermont and Representative Lloyd Doggett, (D), Texas propose overturning the loophole. In the meantime, golden parachutes for top executives in banks bailed out by taxpayers have totaled $98 billion.

Gabriela Resto-Montero

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