by Jack Lee
Citigroup Inc., one of the biggest recipients of your tax dollars given away as bailout money, generously handed over to their top executives $5.33 billion in bonuses for 2008,
while registering a loss of $18.7 foir 2008 on top of previous losses in 07.
Citi, Bank of America Corp., Merrill Lynch & Co., JPMorgan Chase & Co. and Goldman Sachs Group Inc., awarded nearly 4,800 million-dollar-plus bonuses, with much of the money going to Wall Street investment bankers.
Democrats in Congress said they were outraged by companies rewarding themselves for bad behavior when they placed their companies on the verge of financial ruin. Democrats are calling for a limit to such bonuses when receiving TARP money. Republicans said that to attempt to dictate salaries to companies is akin to controlling wages and they opposed it on principal.