– CEO pay at regional banks surge on average to $10.5 million thanks to bailouts while austerity is forced onto the middle class.Posted by mybudget360
“(Fierce Finance) CEO pay at the big six banks–JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley–fell to $85.4 million for 2011, from $147.8 million for 2007, according to Bloomberg. Average pay dropped 42 percent to $14.2 million.
Meanwhile, CEO pay at next five largest banks–U.S. Bancorp, PNC, Capital One, SunTrust and BB&T–rose to $52.6 million from $46.4 million for 2007. Average pay increased 13 percent to $10.5 million.”