On the pay issue, the average paid to each of the top executives at the banks in bailout was $2.6 million in salary, bonuses and benefits. The head of Goldman Sachs got nearly $54 million in compensation, and the top five executives got a total of $242 million. Goldman received $10 billion in taxpayer bailout help on Oct. 20. This year, the execs won't collect stock and cash bonuses and will have to get by on $600,000 salaries. Somebody want to reach some tissues over here?
At Merrill Lynch, chief executive John A. Thain received $83 million in earnings. Merrill got a $10 billion check from Uncle Sam, too.
Many of the executives also enjoy the use of company jets and paid club members and drivers and cars. No word on whether any were carried through the hallways at work on gilded chairs held up by assistant vice presidents. And get this: The geniuses also were offered financial planning help paid for by their companies.
At Merrill Lynch, chief executive John A. Thain received $83 million in earnings. Merrill got a $10 billion check from Uncle Sam, too.
Many of the executives also enjoy the use of company jets and paid club members and drivers and cars. No word on whether any were carried through the hallways at work on gilded chairs held up by assistant vice presidents. And get this: The geniuses also were offered financial planning help paid for by their companies.