{"id":869,"date":"2009-08-04T19:23:01","date_gmt":"2009-08-04T23:23:01","guid":{"rendered":"http:\/\/blogs.law.harvard.edu\/fensterm\/?p=869"},"modified":"2009-08-09T13:08:31","modified_gmt":"2009-08-09T17:08:31","slug":"no-rhyme-or-reason-executive-compensation-of-bailed-out-banks","status":"publish","type":"post","link":"https:\/\/archive.blogs.harvard.edu\/fensterm\/2009\/08\/04\/no-rhyme-or-reason-executive-compensation-of-bailed-out-banks\/","title":{"rendered":"No Rhyme or Reason: Executive Compensation of Bailed Out Banks"},"content":{"rendered":"<p><a href=\"http:\/\/www.democracynow.org\/2009\/7\/31\/headlines\" target=\"_blank\">From the July 31 Democracy Now<\/a>!:<\/p>\n<p><strong>Report: Bailed-Out Banks Spent $32B in Bonuses in 2008<\/strong><\/p>\n<p><strong>A new government report shows the nine largest US banks handed out more than $32 billion in bonuses last year while posting more than $81 billion in losses and receiving billions in taxpayer aid. According to the New York Attorney General\u2019s office, nearly 4,800 Wall Street executives and employees were awarded bonuses of at least $1 million. More than 900 of those worked for Bank of America and Citigroup, two of the largest bailout recipients.<\/strong><\/p>\n<p>This remark from the website of NY Attorney General Andrew Cuomo which posted <a href=\"http:\/\/www.oag.state.ny.us\/media_center\/2009\/july\/pdfs\/Bonus%20Report%20Final%207.30.09.pdf\" target=\"_blank\">the report<\/a> was certainly a proper thing for him to do:<\/p>\n<blockquote><p>THE REPORT WAS PREVIOUSLY TRANSMITTED TO HOUSE OVERSIGHT AND GOVERNMENT REFORM COMMITTEE CHAIRMAN EDOLPHUS TOWNS (D-NY)<\/p><\/blockquote>\n<p>Unfortunately, <a href=\"http:\/\/online.wsj.com\/article\/SB124960476129713019.html?mod=googlenews_wsj\" target=\"_blank\">recent revelations about loans  Rep. Towns got from mortgage lender Countrywide Financial Corp<\/a>, raise questions about its efficacy. But then, leaving the fox to watch the hen house is a Washington tradition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From the July 31 Democracy Now!: Report: Bailed-Out Banks Spent $32B in Bonuses in 2008 A new government report shows the nine largest US banks handed out more than $32 billion in bonuses last year while posting more than $81 billion in losses and receiving billions in taxpayer aid. According to the New York Attorney [&hellip;]<\/p>\n","protected":false},"author":168,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1058],"tags":[],"class_list":["post-869","post","type-post","status-publish","format-standard","hentry","category-the-dismal-excuse-for-a-science"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/posts\/869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/users\/168"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/comments?post=869"}],"version-history":[{"count":6,"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/posts\/869\/revisions"}],"predecessor-version":[{"id":871,"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/posts\/869\/revisions\/871"}],"wp:attachment":[{"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/media?parent=869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/categories?post=869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/fensterm\/wp-json\/wp\/v2\/tags?post=869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}