Sunday, December 21, 2008

If by "Main Street," you mean "Top Executives"

That's how much banks paid their executives in salaries, bonuses and other benefits while handed taxpayer funded bailout capital despite their poor performance. One of the more frustrating disclosures is that some executives received up to $20,000 to defray cost of financial advisers, who provide a market advantage no one else gets in hanging on to windfalls the executives never earned. $20,000 is higher than the highest minimum wages in the country (Santa Fe and San Francisco).

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