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Last updated: July 31, 2009 11:04 pm
JPMorgan Chase and Goldman Sachs paid the most million-dollar bonuses in 2008, while two banks that lost almost $28bn each last year, Citigroup and Merrill Lynch, also made hundreds of their employees millionaires, according to a newly released report on bonus payments by government-supported banks.
| Tarp funds received | 2008 profits / (losses) | 2008 total bonuses paid | Total employees | # bonuses
over $3m |
# bonuses
over $2m |
# bonuses
over $1m |
|
|---|---|---|---|---|---|---|---|
| Bank of America | $45bn | $4bn | $3.3bn | 243,000 | 28 | 65 | 172 |
| Citigroup | $45bn | ($27.7bn) | $5.33bn | 322,800 | 124 | 176 | 738 |
| JPMorgan Chase | $25bn | $5.6bn | $8.693bn | 224,961 | >200 | -- | 1,626 |
| Wells Fargo | $25bn | ($42.933bn)* | $977.5m | 281,000 | 7 | 22 | 62 |
| Goldman Sachs | $10bn | $2.322bn | $4.823bn | 30,067 | 212 | 391 | 953 |
| Merrill Lynch | $10bn | ($27.6bn) | $3.6bn | 59,000 | 149 | -- | 696 |
| Morgan Stanley | $10bn | $1.7bn | $4.475bn | 46,964 | 101 | 189 | 428 |
| Bank of New York Mellon | $3bn | $1.4bn | $945m | 42,900 | 12 | 22 | 74 |
| State Street | $2bn | $1.811bn | $469.97m | 28,475 | 3 | 8 | 44 |
*Wells Fargo’s 2008 losses include losses from Wachovia
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