The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Bank Execs Pocket Bailout Billions

Jan 12, 2009

So far, 116 banks have taken bailout money from the government. Those same banks paid their top executives 1.6 billion dollars in salaries, benefits and bonuses in 2007, according to an AP study.

That money would cover the bailout money taken by 53 of the 116 banks!

The AP study shows the average compensation to an executive was 2.6 million dollars.

In other words, the government is happy to support the very wealthiest bosses who are most responsible for the mess the economy is in. Instead of putting them in jail where they belong!