Useless Government Oversight

The Wall Street Journal reports that the government oversight of bailed-out banks has found bankers are getting questionably large bonuses, but the government isn't going to do anything about it.

Mr. Feinberg's four-page public discussion of banks' pay practices concluded that 17 banks had handed out $1.6 billion in "ill-advised" executive compensation before he was assigned in 2009 to oversee banks that accepted government money during the financial crisis.