Friday, July 31, 2009

BofA: Big bonuses, recession prediction

Posted By on Fri, Jul 31, 2009 at 11:17 AM

Bank of America is all over the paper today.

In excessive bonus news:

Bank of America paid out $3.3 billion in bonuses last year, with 172 employees receiving at least $1million each, according to a report released Thursday by the New York attorney general.

In recession news:

Bank of America Corp. Chief Executive Officer Kenneth Lewis expects economic growth to resume later this year, although unemployment will stay at high levels into 2010.

Wonder if The Ken was able to predict people's outrage? Taxpayers should be outraged to find out that a bailed-out bank loaded its employee's pockets with bonuses in amounts that sound more like lottery winnings.

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