by Deb Cupples | The Citicorp bailout has thus far involved more than $40 billion tax dollars, much of which will likely be used to benefit Citicorp executives and managers -- the same folks who helped drive Citicorp into a ditch. Dean Baker at Truthout observes:
"The politicians and media types who were upset about Senator Obama's
interference in the market should be yelling bloody murder about the
bailout. Their silence shows that they care nothing about the market;
they only care about ensuring that money flows upward. They are fine
with 'spreading the wealth around' as long as it lands with those
already at the top."
Yes, so it seems. The compensation packages of Citigroup's top eight execs and board members from 2006-07 (combined) was nearly $120 million.
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