A new report shows that executives of banks that got federal bailout money received $1.6 billion in salaries, bonuses and other compensation last year.
The Associated Press report notes that:
- The average total compensation to such executives was $2.6 million.
- Last year, Lloyd Blankfein, president and CEO of Goldman Sachs got almost $54 million in compensation although he and six other top execs will forego bonuses this year.
- Richard D. Fairbank, chairman of Capital One Financial, did not get $1 million of his compensation but still came away with $17 million in stock options.
- John A. Thain, CEO of soon-to-be-bought-out Merrill Lynch got $83 million in earnings last year. This year, his request for a bonus was denied.
- Wells Fargo gave its top execs up to $20,000 each for personal financial planners.
- JP Morgan Chase chairman James Dimon expensed $211,182 in private jet bills flying from his home in Chicago to Manhattan.