Nine Wall Street Big Shots Who Cashed In on the Crisis
Posted on Oct 9, 2011
With Americans across the country realizing that they are not the only ones fed up with the CEOs, bankers and policymakers responsible for the current damage to the U.S. economy, now is a good time to read up on the Wall Street executives who profited most from the bubble and federal bailout.
Citigroup director and deregulation architect for the Clinton administration Robert Rubin, Goldman Sachs CEO and Chairman Lloyd Blankfein and JPMorgan Chase President and CEO Jamie Dimon are featured in this article from Mother Jones published in the beginning of 2010. —ARK
After Goldman Sachs, JPMorgan Chase, and Morgan Stanley announced hefty profits last fall, the Obama administration’s pay czar said that he’d cap pay at Citigroup, Bank of America, and five other bailed-out companies. The move was largely symbolic: It capped salaries for only 25 executives, kept big stock bonuses in place, and did nothing to address the culture of rewarding folks who sowed our economic destruction. Below, some of the players who made out like bandits during the bubble and the bailout.
Fortune Live Media (CC-BY)
Goldman Sachs CEO Lloyd Blankfein, who said he does “God’s work,” pulled in $42.9 million in 2008.