JOHN THAIN, former CEO, Merrill Lynch.
Total Payments: Joined with bonus of $15 million, received $83.1 million in 2007
Taxpayer Bailout: ML was purchased by Bank of America
What he’s done with OUR money: Spent $1.2 million renovating CEO suite; (including an $87,000 rug and a $35,000 commode!) paid secret bonuses to ML employees totaling $3 to $4 million. Was fired in January 2009 when Bank of America discovered unexpected $15 million loss on ML’s 4th quarter ’08 books, requiring further tax dollars to Bank of America. Under subpoena for possible criminal frauds in awarding 2008 bonuses.
MARTIN SULLIVAN, CEO, AIG
Total Payments: $13.9 million in 2007
Taxpayer Bailout: $123 billion
What he’s done with OUR money: Treated executives to a $444,000 retreat in Sept. ’08; a $86,000 hunting trip to England in October; and executive junket in November costing $343,000. AIG employees lobbying government received $7 million. By Oct. 23, the Federal Reserve had loaned AIG $123 billion. By October 30, AIG had consumed $90 billion of it.
VIKRAM PANDIT, CEO, Citygroup
Total Payments: $3.1 billion in 2007, $216 million on joining Citygroup in 2007
Taxpayer Bailout: $45 billion and up to $300 billion in asset guarantees
What he’s done with OUR money: Spent $1.77 million in 2008 to lobby government. Was allocated $400 million for naming rights of New York Mets baseball stadium
KENNETH D. LEWIS, President and CEO, Bank of America
Total Payments: $20 million in 2007
Taxpayer Bailout: $25 billion plus $20 billion plus $50 billion in guarantees
What he’s done with OUR money: Complicit in secret bonus payouts to ML employees; Petitioned for more bailout funding when ML lost additional $15 billion during last of 2008. In last 5 years has received total of $165 million
JOHN G. STUMPF, CEO, Wells Fargo
Total Payments: $11.45 million in 2007
Taxpayer Bailout: $25 billion
What he’s done with OUR money: Lost $2.3 billion in the last 3 months of 2008 and received $25 billion in tax payer dollars.
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