AP study finds $1.6 billion went to bailed-out bank execs

[superconnected]

Source: By Associated Press

Banks that have their hands out in Washington this year were handing out multimillion-dollar rewards to their executives last year.

The 116 banks that so far have received taxpayer dollars to boost them through the economic crisis gave their top tier of executives nearly $1.6 billion in salaries, bonuses and other benefits in 2007, an Associated Press analysis found.

That amount, spread among the 600 highest paid bank executives, would cover the bailout money given to 53 of the banks that have shared the $188 billion that Washington has doled out in rescue packages so far.

Some banks trimmed their executive compensation in the face of faltering performance that foreshadowed the current economic crisis, but they still granted multimillion-dollar packages. Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the AP review of federal securities documents found.

Read more: http://www.komonews.com/news/national/36571139.html

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Probably already posted but just in case.

[rpannier]

1. There are only a small number of things that just can't be posted enough

This is one of the few

Thanks for posting

[western mass]

2. thank you, corporate Democrats....

who knew full well what the consequences of ramming this bailout through would be.

when are the next primaries again?

[Acadia Blue]

4. Like the morons could believe anything coming in the 9th hour from

Bush and gang? I called my Dem Senator about the rush rush and trusting Bush. She did not vote for the bailout being leary of anything Bush says.
The rest of them are corporate pigs and enablers of Bush's destruction of the working and middle class in this country while enriching the parasites who are ruining our country.

[Acadia Blue]

3. Bush will never be called a traitor to his class. He feeds them with

the taxes of the poor and the middle. Filthy parasitic scum that are oppressing the rest of us.

[Haole Girl]

5. This shouldn't surprise anyone. nt

[happylib]

6. Everyday I wake up expecting to here on the news

that somebody they screwed over has torched one of these CEO mansions because the person had nothing left

[Romulox]

7. I see some of the "Thank God it Passed!" chorus posting on LBN. Why won't they touch these threads?

[NashVegas]

8. Hey Rush - Want to Tell Me Again How Overtaxed the Wealthiest Americans Are?

And how estate taxes need to be permanently repealed?