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Banks Owe Execs Billions— in Previous Years' Pay

Under bailout rules, banks can honor past obligations to execs with federal cash

By Clay Dillow,  Newser Staff

Posted Oct 31, 2008 8:00 AM CDT

(Newser) – The financial titans receiving huge portions of federal bailout cash are sitting on some massive IOUs, but they aren’t to taxpayers or shareholders—the banks owe billions to their own executives for previous years' pay and pensions. Under the rules of the bailout, they...   Read full story »

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