Top Executives At Bailed Out Banks Still Employed

At banks that are receiving federal bailout money nearly nine out of every 10 of the most senior executives from 2006 are still on the job, according to an Associated Press analysis of regulatory and company documents.

Nine out of 10 most senior executives at banks who are receiving bailout money are still employed, said an analysis of regulatory and company documents by the Associated Press.

It appears somewhat ironic as these are the same executives who were in control when the banking system just about collapsed.

Top executives whose banks made risky loans that destroyed the economy haven’t had their positions threatened, while a more unfortunate 100,000 bank employees were laid off during the past two years.

“Our senior leadership team of our CEO and his direct reports have an average tenure of almost a quarter-century with our company,” said Wells Fargo spokesperson Julia Tunis Bernard. “Our unchanging vision, values and time-tested business model will continue to guide our leaders and our team into the future, and are now more than ever a competitive advantage as our industry evolves.”

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