AP study finds $1.6B went to bailed-out bank execs
On verge of failure, bank executives collected financial bonanzas, AP study finds
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.
Happy festivus to the heathen banks execs. They worship money. Tax payer's money.