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Experts dispute claim by CNBC's Burnett that size of Wall Street bonuses is unrelated to TARP money

February 02, 2009 5:35 pm ET

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SUMMARY: Responding to criticism of the bonuses paid in 2008 by Wall Street firms -- some of which had received federal bailout funds -- Erin Burnett said during Meet the Press: "The taxpayer money isn't being taken and paid out in the form of bonuses. It goes in a separate pool ... a separate account for banks." However, contrary to Burnett's assertion, money is fungible, and without the federal assistance, Wall Street bonuses would have been much lower, according to several experts.

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