Citi, Bank of America Managers Averaged $18 Million Pay in 2008

Bloomberg by Bradley Keoun | Oct. 25, 2009 (News Report)
The highest approved pay among all the covered executives was $10.5 million for Robert Benmosche, the CEO of AIG, whose bailout totals $182 billion.

Oct. 24 (Bloomberg) -- Citigroup Inc. and Bank of America Corp. paid top executives an average of $18.2 million each last year as the banks accepted $90 billion of bailout funds, records from Treasury Department paymaster Kenneth Feinberg show. Full Story »

Posted by jpinsatx - via Google News (Business)

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Subjects: Business
Member Tags: business, bail-out, economy, recession
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Posted by: Posted by jpinsatx - Oct 25, 2009 - 8:54 AM PDT
Reviewed by: jpinsatx (review), John Louden (review)
Content Type: Article
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Edited by: jpinsatx - Oct 25, 2009 - 9:23 AM PDT

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jpinsatx
5.0
 by jpinsatx - Oct. 25, 2009

REALITY CHECK... The issues are: 1) Pay Cuts and Pay Backs. 2) Who to Terminate. 3) Who to Prosecute. Rewarding Incompetence and Corruption during "The Great Recession" is Total Insanity!

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John Louden
4.1
 by John Louden - Oct. 27, 2009

Shock and awe.

Bank of America will pay the 13 top executives a total of $78.6 million in 2009, according to Feinberg. While the total is down by 66 percent from last year, the executives ... More »

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