The time for bonus has come on America's most famous street, the Wall Street. Public anger and 10% unemployment in the country has however hampered aspirations from the financial workers to earn sizable amounts.

The institutions are trying to make good in the public eye by supporting charitable contributions and small-business loan programs but the support for billion dollar bonus funds is highly unlikely.

In the better economic times, the huge bonus pay out could be justified or rather explained as the money is needed to retain talent. In the aftermath of the financial crisis which matched the great depression, the government is keeping a close eye while strong reactions from people would be expected if the bonus pays are large.

The leading institutions of the street Goldman Sachs and J. P. Morgan Chase were saved by public bailouts when the financial crisis hit the global economy. Without the $240 billion fund to save the financial firms, it would have been very difficult for the institutions to even survive.

In the current scenario the Wall Street is ethically not expected pay bonuses of more than six digits. But Street works in its own ways and with money business.

The government is also not happy with the prospects of high bonuses. The government saved the firms with large bailout packages as the firms were "too big to be allowed to fail". There are calls to keep a check on bailouts.

The only case against Wall Street executives involving suspected fraud in connection with risky subprime mortgage securities was lost while a district court acquitted two Bear Stearns hedge fund managers whom the government accused of fraud.

The Wall Street institutions involve in operations which are essential for economic activity and others which are speculation and sorts. Government bailout should only be for saving institutions that are involved in basic operations.

The Justice Department and other federal agencies have made their systems more efficient to keep checks on financial fraud. 2,800 investigations of mortgage fraud across the country were opened recently.

Even as the government said that fraudulent operations were reported from across the country, the public anger has largely targeted the Wall Street. The public sentiment resulted in proposals in Washington for hefty new taxes on bonuses.

Countrywide Financial, for example was the biggest originator of subprime loans while being the largest mortgage lender in the United States until the financial crisis and it was taken over by the Bank of America.

The subprime market then disappeared after Countrywide was acquired leaving the bank of America to suffer the losses.

The institutions must be made responsible for their own money leaving others from the risk of defaults on the street like most hedge funds and buyout firms.