Robert Steel Joins Team No Bonus

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It must sting a little for a CEO to not only not receive a bonus this year but for there to be little fanfare or debate as to whether or not he deserves it, while everyone from the Wall Street Journal to fellow market participants to SAC employee Gary Busey to shout loudly and take sides with regard to John Thain and Mack's garbage bags of cash. Which is to say-- Wachovia CEO Robert Steel is jack this year! Sure, he only joined the bank in July, but he did save it from a loveless, possibly abusive marriage to deadbeat Citi. Does that not count for anything? Apparently not. (To be fair, it's unclear whether or not Steel was offered a bonus and declined, or if he took a page from fellow Goldman alum John Thain's playabook and asked for a few mill before being told to hit the bricks.)

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