Today, New York state Attorney General Andrew Cuomo released a detailed report on last year's bonus season for bailed-out banks. Called "NO RHYME OR REASON: The Heads I Win, Tails You Lose I Bank Bonus Culture," the not-so-subtly titled report illustrates exactly how much each TARP bank paid out last year, how much they earned or lost, and how much TARP money they received. We should warn you, its not pretty.
Some of the numbers can be misleading. For example, the average bonus figures are somewhat skewed by the number and type of employees a particular bank has. For example, Bank of America has retail bank operations - and a lot of employees who aren't bonus-eligible. Goldman Sachs, for its part, has far fewer employees.
Yet, when you examine all of the numbers in one place, the figures are staggering. Though some banks posted profits last year, many lost billions -- and those particular billion-dollar bonus pools seem all the more extravagant now.
Below, we've compiled some numbers from the Cuomo report. Admittedly, our analysis is rather crude. We've included numbers from each bank's total TARP bill, its 2008 earnings (or losses) and its total bonus pool.
Which bailed-out banks doled out the best pay packages, despite the near-collapse of our economy? Which bonus pools were the most egregious? (NOTE: some of the bonus pools include a mix of cash and equity). View our SLIDESHOW and VOTE below.