Sunday, December 21, 2008

Bankers Pocket Billions From Bail-Out

Posted By on Sun, Dec 21, 2008 at 11:59 AM

I read a story like this and have to wonder: Why is it so bad if people like this pay more in federal income taxes?

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.

Please, Joe the Plumber, explain it to me.

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