The biggest banks in the United States, after taking billions in taxpayer bailouts and untold trillions in zero-interest secret subsidies from the Federal Reserve, are about to engage in the annual January ritual of larding out huge annual bonuses, some totaling millions of dollars, to their top executives. Meanwhile, a commission created by Congress is scheduled on Wednesday to begin hearings into what caused the worst economic collapse since the Great Depression.  One area the panel is expected to examine is whether pay incentives caused bankers to take unjustified risks with other people's money. Senator Bernie Sanders has called for a thorough investigation into what triggered the recession. He also has proposed legislation to cap executive compensation at bailed out banks.

For details on the Financial Crisis Inquiry Commission hearing, click here.