We've heard from taxpayers who don't like the federal government bailing out industries where executives are taking home millions in bonuses.
A new Associated Press report found banks that are receiving taxpayer-funded bailout funds paid their top executives nearly $1.6 billion in bonuses and other benefits this past year.
The AP reports the rewards come at a time when many of them should have seen economic troubles coming. The total amount paid to the nearly 600 executives of 116 banks that have accepted federal help shows the bonuses and other perks would have covered the bailout money paid to them.
The average paid to the banks' top executives was $2.6 million. Goldman Sachs CEO Lloyd Blankfein took home about $54 million last year, the AP reported. Capital One Financial CEO Richard Fairbank was awarded about $1 million in compensation and another $17 million in stock options. His company received $3.56 million in bailout funds.
