Goldman Sachs

(GS) - Get Report

says it wants to

pay back the $10 billion

in Troubled Asset Relief Program -- aka taxpayer-funded banking bailout -- it received from the government as part of the effort to stoke lending and end the credit crunch.

Apparently the bank would like to "get out from under" the executive pay restrictions, according to what Goldman CFO David Viniar said this week at a conference. Viniar is probably chafing at

President Barack Obama's biting remarks

yesterday about "executives being rewarded for failure."

But as

Jonathan Mooreland

pointed out in an opinion piece on

Wednesday, receiving TARP funds didn't stop Goldman from paying out rewards recently that dated back to 2005.

I share Mooreland's outrage. After all, Goldman is complicit in the mortgage mess we're trying to dig our way out of. The bank played a role in the mortgage meltdown by originating, underwriting and making the markets for mortgage-related securities, including subprime debt. Goldman also reportedly bet against subprime mortgage securities and profited handsomely.

So Goldman, just face up to the fact that you were complicit and accept your fate along with the rest of the players. Don't try to game the system again and get an edge on

Morgan Stanley

(MS) - Get Report



(C) - Get Report


JPMorgan Chase

(JPM) - Get Report

and the rest.


Bank of America

(BAC) - Get Report


Wells Fargo

(WFC) - Get Report

and just about every other bank must face pay limits, every bank must do so in order to keep a level playing field that will allow everyone a chance to rebuild the credit system.

Sorry, Goldman. You helped make the mess, so you have to help clean it up. Cheating the system is what got us into this mess. Those days are over. Deal with it.

Hall is the editor of

. Previously, he served as deputy editor and chief innovation officer at

The Orange County Register

and as a news manager at

Bloomberg News

in Frankfurt, Amsterdam and Washington, D.C. As a reporter, he covered business and financial markets, worked in both print and television in the U.S. and Europe, and conducted in-depth investigative coverage at

The Journal-Gazette

in Fort Wayne, Ind. His work also has been published in a variety of newspapers including

The Wall Street Journal


The New York Times


International Herald Tribune

. Hall received a bachelor�s degree in journalism and political science from The Ohio State University and has taken graduate management science courses at Boston University.