Saturday, December 20, 2008

AP: $1.6B Went To Bailed-Out Bank Execs

By Associated Press Writers FRANK BASS and RITA BEAMISH
Dec 21, 2008

On the 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.

Read the rest of the story in Newsweek.

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