TV News LIES

Saturday, Sep 20th

Last update01:33:10 AM GMT

You are here News Economy As Big Bank Stocks Plunge, CEOs Continue To Reap Huge Salaries

As Big Bank Stocks Plunge, CEOs Continue To Reap Huge Salaries

E-mail Print PDF

Bank CEO's reap huge profits as shares fallWall Street Pit’s Ron Haruni points out that as the banking industry’s stocks plunged this year — with major megabanks like Bank of America facing uncertain fates — their executives have walked away with sky-high salaries.

Haruni cites the work of Rochdale Securities analyst Dick Bove and shows how banks have seen their value and stocks plunge by double-digits while executive compensation remains high:

According to data from Rochdale Securities analyst Dick Bove, the heads of major banking groups including JPMorgan Chase (JPM), Goldman Sachs (GS) and Bank of America (BAC) are out-earning their employees and shareholders even as shares of bank stocks as a group lost about 26% this year.

Bove found that while the 23 financial institutions he follows saw their stock prices and market cap drop by more than 30% and 11%, respectively, bank CEO compensation averaged $7.74 million.

More...


Most Recent Related Stories...


Trump Plaza closes its doors, becomes 4th Atlantic City casino to close this year

Trump casino closesThe supervisor drew his finger in a slashing motion moments after the final hand of blackjack...

Seniors Forced Into Poverty As Education Department Demands Payment

student loan debtThe Education Department is demanding so much money from seniors with defaulted student loans that it's...

US wealth gap putting the squeeze on state revenue

income inequalityIncome inequality is taking a toll on state governments.The widening gap between the wealthiest Americans and...

Morgan Stanley to pay $95 million in U.S. mortgage-debt settlement

Morgan stanleyMorgan Stanley (MS.N) has agreed to pay $95 million to resolve a lawsuit accusing the Wall...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!