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Friday, October 31, 2008

US Banks Owe $40 Billion In Pay, Pensions To Executives

Troubled financial giants getting cash infusions from the U.S. Federal Reserve owe their executives more than $40 billion for past year's pay and pensions as of the end of 2007, the Wall Street Journal said in an analysis.

The sums owed are mostly for special executive pensions and deferred compensation, including bonuses, for prior years, said the paper....

Read more US banks owe billions in pay


Source: economic times

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