Bank CEO Compensation – How Much Is Too Much?

February 16, 2009

CEOBy Angie Moreschi:

It’s good to be the CEO. Big Bank Executives have made a mint over the past several years, overseeing the greatest financial disaster in generations.  Definitely worthy of every penny.  With compensation in the millions, these CEO’s took while the gettin’ was good.  And now, they’re taking again, but this time from the taxpayers.  As the government prepares to dole out the cash for TARP-2, we thought you might like to see just how much these folks were paid.

From $72.5 million for Goldman Sachs President Gary Cohn to JP Morgan Chase CEO James Dimon’s $27.8 million to Bank of America CEO Ken Lewis’ $24.8 million.  Must be nice.  Read the numbers from CNN Money for the total compensation of top executives in 2007 for the 9 banks that got money from the first batch of federal TARP dollars.

And we’ll do the math for you.  If you add up the dollar amounts listed for those top executives in 2007… the grand total is… $945 million.   Yes, just under a billion dollars for these corporate leaders who’ve proven they sure know how to make money– at least for themselves.