Bailout barons make millions, as workers lose jobs


The top five executives at each of the 20 banks that accepted the most federal bailout dollars averaged $32 million a piece in personal compensation from 2006 through 2008, according to the findings of the 16th annual Institute for Policy Studies' "Executive Excess" report. The institute calculated that 100 average U.S. workers would have to labor over 1,000 years to make as much as these 100 executives.

In addition, based on stock options pocketed in early 2009, the top five executives at ten of the 20 bailed-out banks have enjoyed a combined increase in value of their stock options of nearly $90 million. Only ten of the banks had revealed stock option data at the time the report was drafted.

Originally published