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

[laststeamtrain]

AP study finds $1.6B went to bailed-out bank execs
By FRANK BASS and RITA BEAMISH, Associated Press Writers Frank Bass And Rita Beamish, Associated Press Writers Sun Dec 21, 6:33 pm ET

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals.

The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance, but still forked over multimillion-dollar executive pay 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.

The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines.

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http://news.yahoo.com/s/ap/20081221/ap_on_bi_ge/executive_bailouts;_ylt=AlBvtM80TPVboy3CqpUF_fGs0NUE
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When the guillotines?

[rhett o rick]

1. I am curious as to what action has to happen before the American public realizes that

the thieves apparently can't be stopped.

[av8rdave]

2. Don't you get it? If you're a bank exec, you're ENTITLED to money like that

It just goes with the territory.

What pisses me off is that these are usually the same people that complain about "the entitlement mentality" when the subject of social programs comes up.

[rhett o rick]

3. You're right, silly me. nm

[AndyTiedye]

4. It Was Discovered in the '80s that the Best Way to Rob a Bank is to Buy It First

Jesse James was a piker.