Annual Institute for Policy Studies "Executive Excess" Report

America’s Bailout Barons – Taxpayers, High Finance, and the CEO Pay Bubble. Institute for Policy Studies. 16th Annual Executive Compensation.

  • “The 20 U.S. financial firms that have received the most bailout dollars from taxpayers awarded their top five executive officers, in the three years through 2008, pay packages worth a combined $3.2 billion. These 100 financial executives, on their way to driving the U.S. economy off a cliff, averaged $32 million each. One hundred U.S. workers making the 2008 annual average wage would have to labor over 1,000 years to make as much as these 100 executives made in three. Financial pay far above average: In 2008, the year taxpayers rescued the financial industry, chief executives at the top 20 financial recipients of bailout dollars earned 37 percent more than their CEO counterparts elsewhere in the U.S. economy. These high-finance CEOs averaged $13.8 million last year. S&P 500 CEOs, by comparison, averaged $10.1 million.”
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