If you haven’t heard, now that Bank of America has repaid the government for its bailout, its sending plenty of bonuses to its bankers.
The blog 24/7 Wallstreet reports:
Bank of America will also pass out handsome bonuses to its bankers, just a few months after its repaid the government $45 billion in aid that it got to stay in business through the credit crisis. The Wall Street Journal reports that the bonus pool at B of A will be more than $4 billion. Traders will collect an average of $300,000 to $500,000, according to the paper.
The bonuses are a return to 2006 levels, says the New York Times.
So if you’re a Bank of America customer or credit card holder, you’re helping to reward the bankers who played fast and loose with your money.
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