President Barack Obama lashed out yesterday at "shameful" Wall Street executives for claiming billions of dollars in bonuses while their stricken institutions asked taxpayers for support.

Mr Obama was responding to a report showing that financial sector employees received $18.4bn in bonuses last year, amid a dire financial crisis. The figure was down 44 per cent from 2007 but was still the sixth largest pay-out in history, according to the New York state comptroller.