The Spark

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

Bailouts Pay Bankers’ Bonuses

Aug 3, 2009

The Attorney General of New York State released an astonishing account of bank executive bonuses. At least 4,793 Wall Street bankers and traders were paid bonuses of ONE MILLION DOLLARS OR MORE last year. This, while the banks involved were failing, going broke – and then taking more than 200 billion dollars in taxpayer bailouts!

Among the biggest:

Citigroup received a 45-billion-dollar bailout, and then gave million-dollar bonuses to 738 employees.

Bank of America and Merrill Lynch received bailouts totaling 45 billion dollars, and paid million-dollar bonuses to 868 employees.

Goldman Sachs got 10 billion bucks in direct bailout and many, many more billions in indirect bailouts through AIG. Goldman paid million-dollar bonuses to 953 people.

Morgan Stanley got 10 billion dollars in bailouts, and paid million-dollar bonuses to 428 people.

JPMorgan Chase got 25 billion dollars in bailouts, and paid million-dollar bonuses to 1,626 people.

Nothing is too good for the bankers, when the taxpayers are paying!