More than one-third of the nation's highest-paid CEOs from the past
two decades led companies that were subsidized by American taxpayers,
according to a report released Wednesday by the Institute for Policy
Studies, a liberal think tank.
"Financial bailouts offer just one example of how a significant
number of America's CEO pay leaders owe much of their good fortune to
America's taxpayers," reads the report. "Government contracts offer
another."
IPS has been publishing annual reports on executive compensation
since 1993, tracking the 25 highest-paid CEOs each year and analyzing
trends in payouts. Of the 500 total company listings, 103 were banks
that received government bailouts under the Troubled Asset Relief
Program, while another 62 were among the nation's most prolific
government contractors.
Many of the companies appeared multiple times on the annual top 25
list, with Bank of America appearing 18 times, Citigroup appearing 15
times, while Morgan Stanley and American Express each secured 12 slots.
JPMorgan Chase CEO Jamie Dimon has landed on the list twice since the
bank received $10 billion under TARP, and American Express CEO Kenneth
Chenault has appeared three times since his company accepted $3.4
billion in bailout money. Goldman Sachs received $10 billion under TARP,
and made the list seven times in the past two decades, once after
receiving its bailout. Washington Mutual and Lehman Brothers, both of
which failed in 2008, also appeared on the list, with Leman making eight
appearances before filing for bankruptcy.
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http://www.huffingtonpost.com/2013/08/28/richest-ceos-compensation-ceos_n_3825087.html
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