Jul 312009
FT.com / Companies / Banks – Tarp banks award billions in bonuses.
Citigroup and Merrill Lynch, which lost $55bn in 2008, between them paid 1,400 employees bonuses of $1m or more each, according to a New York state report, released on Thursday, on banks propped up with taxpayer funds.
See details of Tarp recipients’ bonus payments
The study, compiled by Andrew Cuomo, New York attorney-general, showed that JPMorgan Chase and Goldman Sachs, which both finished in the black last year, paid the most million-dollar bonuses – 1,626 and 953, respectively.
Paid millions to march the economy to the brink of disaster in a game where the only losers are us.
Do we have to go a lot further to define madness?
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