Big Banks Give $5.33 Billion In Bonuses

By Justin Gardner | Related entries in Bailouts, Banks, Money

And this is for 2008…a year when their failure nearly brought the entire world’s financial system to its knees.

I don’t care if these bonuses were contractual or not. New circumstances (you know…like BANKRUPTCY!) could allow them to renegotiate with their employees.

From the AP comes the list…

Citigroup…

Citigroup Inc., one of the biggest recipients of government bailout money, gave employees $5.33 billion in bonuses for 2008, New York’s attorney general said Thursday in a report detailing the payouts by nine big banks.

Bank of America…

Bank of America Corp., which also received $45 billion in TARP money, paid $3.3 billion in bonuses, with 172 employees receiving at least $1 million. Of those, 28 received bonuses of more than $3 million.

Merrill Lynch…

Merrill Lynch, which Charlotte, N.C.-based Bank of America acquired during the credit crisis, paid out $3.6 billion. Cuomo’s office said Merrill Lynch doled out 696 bonuses of at least $1 million for 2008, with 149 of those workers getting bonuses of at least $3 million.

And less offensive are JPMorgan and Goldman Sachs, but it still makes you wonder why they took money in the first place…

JPMorgan, which gave 1,626 employees of at least $1 million, paid back the $25 billion it received in TARP money last month. Goldman, which repaid its $10 billion in government money last month as well, gave 953 workers bonuses of at least $1 million. The two banks each gave more than 200 employees bonuses of more than $3 million.

Yes, they learned nothing from last year. They’re simply taking advantage of the position they put all of us (including the government) in and doing whatever they want. Business as usual.

Amazing.


This entry was posted on Thursday, July 30th, 2009 and is filed under Bailouts, Banks, Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Big Banks Give $5.33 Billion In Bonuses”

  1. Chris Says:

    F**K the banks. I am now wanting our financial system to come tumbling down.

  2. Jimmy the Dhimmi Says:

    I have an idea. Let them fail.

  3. The Tax Payer Pays The Big Banks Bonuses Says:

    [...] Also: Big Banks Give $5.33 Billion In Bonuses, On Q2 Bank Earnings, It’s Still Good To Be A Banker, Bankers’ Bonuses, Bailouts are [...]

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