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Report: Bailed-Out Banks Spent $32B in Bonuses in 2008

HeadlineJul 31, 2009

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’s 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.

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