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How would you like $2.6 Million for being a failure?

An in-depth study of government records by the Associated Press shows that the banks that are receiving government bailouts paid their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year. The average amount paid to each of the banks’ top executives was $2.6 million — not bad for someone whose business was so bad they had to beg for government money — but some were even worse. Lloyd Blankfein (CEO of Goldman Sachs) took home nearly $54 million last year.

Who needs welfare — all you need to do is get a job as a bank CEO.


One Comment

  1. msgruntled wrote:

    Reminds me of my own recent post, Evidently, abject failure is a plus on some résumés

    Monday, February 2, 2009 at 3:00 pm | Permalink