That's the question that the NYT should have asked when Morgan Stanley's spokesperson told reporters that the money for bonuses would come from operating expenses rather than the bailout money. Since money is fungible, this comment doesn't make any sense.
--Dean Baker
The American Prospect is fiercely independent and reader-funded. Your support directly funds our team of investigative reporters, fact-checkers, and editors who produce in-depth journalism that holds the powerful accountable.
If you believe in reporting that informs, challenges, and inspires, there are two key ways to support us:
• Donate to keep our nonprofit newsroom strong and fearless
• Subscribe to our award-winning print magazine and receive our hard-hitting reporting and analysis in your mailbox 6 times a year
Your support makes our journalism possible. Thank you for standing with us.
