Paid to destroy value

Posted on / 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?