December 21, 2008

What's wrong with America...

Now for something a little different:

According to an Associated Press analysis, of the 116 banks that received $188 billion of taxpayer money last year, the average paid to each of the banks' top executives was $2.6 million in salary, bonuses, and benefits.

For someone who makes Federal minimum wage (which will soon be $7.25 an hour, so let's use that number) and works 40 hours a week, for fifty-two weeks a year, for every year between age 18-65, they will make a grand total of $708,760 IN THEIR LIFETIME.

That's 27% of what the executives made last year alone, and the executives couldn't even do their jobs right.

To quote Mr. Barney Frank: "Most of us sign on to do jobs and we do them best we can. We're told that some of the most highly paid people in executive positions are different. They need extra money to be motivated!"

America has a huge poverty problem, and either our priorities in this bailout are clearly misplaced, or the wealthy are bilking us taxpayers for all they can get their hands on. Or both.

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