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July 31, 2009

Report: Bailed-Out Banks Spent $32B in Bonuses in 2008
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A new government report shows the nine largest US banks handed out more
than $32 billion in bonuses last year while posting more than $81
billion in losses and receiving billions in taxpayer aid. According to
the New York Attorney General’s office, nearly 4,800 Wall Street
executives and employees were awarded bonuses of at least $1 million.
More than 900 of those worked for Bank of America and Citigroup, two of
the largest bailout recipients.



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