Wouldn’t you love to work in an industry that pays you a huge salary and bonuses even when you’re running your company and the economy into the toilet? Oh wait, it looks like some of people already do.
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.
Who cares if 116 banks could have been saved just with the perks many of these CEO’s received. I’m sure many of them just couldn’t live without their company jets, chauffeurs, and country club memberships.
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