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And they earned this because...?

The Institute for Policy Studies has estimated the CEO pay of the top semi-nationalized banks. It's a combined total of $289 million for 2007.

Nationalized banks
CEO in 2007, total compensation in 2007

Merrill Lynch,
John Thain
$83,092,713

Goldman Sachs
Lloyd Blankfein
$53,965,418

Morgan Stanley
John Mack
$41,734,815

J.P. Morgan Chase
James Dimon
$28,856,330

Bank of New York Mellon
Robert Kelly
$20,515,810

State Street
Ronald Logue
$19,551,400

Wells Fargo
Richard Kovacevich
$18,510,694

Citigroup
Vikram Pandit*
$3,160,000

Bank of America
Kenneth Lewis
$20,040,000

Total: $289,427,180

  • Pandit was promoted to CEO in Dec. 2007, 8 months after joining Citigroup.
    Source: Associated Press inter-active online survey. Includes stock options grants.

About the author

Chris Farrell is the economics editor of Marketplace Money.
the Cerebral Assassin's picture
the Cerebral As... - Oct 20, 2008

Chris,

Can you also post the compensation of the CEO's whose banks are out of business as well as AIG's and other related companies caught up in this financial tsunami? Thanks!

tCA