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"Earlier this year, Bloomberg calculated that the top 10 U.S. banks receive a $83 billion a year in subsidies from the government, due to their cheap cost of funding & the preferential treatment creditors give them because they assume the government sees them as TBTF.
rest at http://becausefinanceisboring.com/post/71111038392/no-shame-91-billion-in-bonuses-83-billion-in
"Earlier this year, Bloomberg calculated that the top 10 U.S. banks receive a $83 billion a year in subsidies from the government, due to their cheap cost of funding & the preferential treatment creditors give them because they assume the government sees them as TBTF.
In November, a NYT analysis of a Johnson Associates survey found that the top eight U.S. banks set aside $91.44 billion for bonuses in 2013.
This absurd amount in bonuses, given the subsidy banks get, is even MORE absurd when you think through all the OTHER ways they profited this year do to criminal activities. (See my roundup of SOME of the 2013 bank crimes, and my top three worst offenses). And the fact that 10 million people were displaced from their homes during the foreclosure crisis—as many as live in the entire state of Michigan!"
rest at http://becausefinanceisboring.com/post/71111038392/no-shame-91-billion-in-bonuses-83-billion-in
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