With the transformation of Wall Street from a simple tool of investing capital in a company, to an sophisticated and often rigged gambling operation with the ability to bring economies to their knees, there needs to be limits to what these wealthy people are able to gain. In fact, capping their bonuses is not nearly enough of a restriction, but it is a place to start reigning in social imbalance and deep corruption.
I believe there should be a cap on Wall Street bonuses. I think many of these companies are refusing to pay a living wage to their employees yet the CEO's pay themselves and their associates vast sums of money. They are holding the economy at gun point and tying up the majority of money in the system. We need to cap their pay and also insist that a live-able wage be paid to all employees. We need to fix income inequality.
Brokers deserve their bonus' but who should be capped are the corporations executives who bleed their companies dry and then go bankrupt leaving creditors and employees without compensation. That is pure evil. It should be illegal for them to draw out everything at once causing depletion in cash flow that results in the corporation bankruptcy.
There should never be a cap on what businesses are allowed to pay their employees. Unless what they are doing is illegal it should not be monitored by the government. Most high ranking employees are paid partially in stock options which are only worth something if utilized. Total compensation of CEO's looks much higher then it is when you separate straight cash from other benefits and compensation.
No, there should not be a cap on Wall Street bonuses, because if the market will bear it they should be able to receive what someone is willing to pay them. If they manage money well for their investors, or they handle the high pressure of the banking industry, they should receive just compensation.
I do not think that there should be a cap on Wall Street bonuses. I think that people should have the right to make as much money as they want if their job warrants it. If somebody does a great job as their role as a wall street banker, then they should be able to get a good bonus without the government capping it.