CEO’s Make 300 Times Average Workers Salary
September 3, 2009
By Angie Moreschi:
So much for the troubled banks. Taking charity from taxpayers hasn’t seemed to make a difference to our top financial institutions. They are still paying their CEO’s hefty salaries, despite the fact that these fearless leaders lead us into the black abyss of a near financial meltdown. All in a days work, apparently, and a very well compensated one at that. Click here to watch the video above and learn more about the latest study on excessive CEO compensation.
A new study just published by the Institute for Policy Studies shows the CEO’S at the top 20 TARP recipients earned an average of $13.8 million last year as they were presiding over the financial collapse. CEO’s in other parts of the economy earned an average of $10.1 million.
Making matters even tougher to choke down, the overall CEO-to-worker pay gap is enormous. S&P CEO’s in 2008 earned 319 times more than the average worker.
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