For bonuses/income received after 12/3108. Employees can pay bonus back to avoid being hit. Here's the link: http://www.bloomberg.com/apps/news?pid=20601087&sid=aDp10KHqqRgo&refer=home
the good people will leave for higher salaries, while the bad employees won't be able to get jobs and will be left to run these companies and trillions in "assets" to use the term loosely. Pimco, private equity, and hedge funds should have a good time fleecing them of the distressed assets that the taxpayer paid for (or was printed). fortunately, barney frank was genuinely excited about what he called the "opportunity" for congress to take over and run fannie mae, and now is ready to assert the government's power of "ownership" over AIG, and he seems eager to dictate loan policy to the banks. so, at least someone wants the job and we'll have some bodies at these multi billion dollar companies.