The Oligarchy [View all]

[Scuba]

Goldman Sachs only earned $2.3 billion last year, grabbed $10 billion in TARP, then paid out $4.8 billion in bonuses in 2008 — more than double its net income.

Morgan Stanley (Stock Quote: MS) only earned $1.7 billion last year, received $10 billion in bailout funds, then paid $4.475 billion in bonuses, nearly three times their net income.

JPMorgan Chase (Stock Quote: JPM) only earned $5.6 billion in 2008 and received $25 billion from the government, but it paid out $8.69 billion in bonus money.

Citigroup (Stock Quote: C) and Merrill Lynch suffered a combined $54 billion in losses in 2008. The banks received a total of $55 billion in bailouts and paid out $9 billion in combined bonuses.


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