Morning Money Links: Here comes bonus rage; Geithner to face House on AIG; is China 'Dubai times 1,000'?
--- Here come the bank bonuses: It’s payout season, and the bonus headlines are sure to enrage on Capitol Hill and Main Street. Simon Johnson focuses on Goldman Sachs' expected payouts and scoffs at the standard banker argument that employees would bolt without their bonuses. He asks of Goldman workers in particular: “Where exactly would these people go to work if this year’s bonus is set at zero?”
--- House wants answers on AIG: Treasury Secretary Timothy F. Geithner is called to testify on his role, if any, in hushing American International Group’s post-bailout payments to banks when he was head of the New York Fed. The Fed says Geithner had no input on the matter.
--- Hopeful signs from UPS -- except for the workers about to be let go: The package-delivery giant, a bellwether for the economy, boosts its estimate of fourth-quarter earnings. But it also plans to cut 1,800 jobs. The stock is at a 52-week high.
--- Is a Chinese economic bust inevitable? Famed short-seller Jim Chanos thinks so. “Dubai times 1,000 -- or worse”?
-- Tom Petruno