(AOL Black Voices) — I guess this should come as no surprise, but a lot of our tax dollars were recently wasted on executive compensation. According to the Treasury Department’s pay czar, 17 banks that received hundreds of billions of federal bailout dollars overpaid their CEOs and top executives. How much excess cash was lavished on these execs? Try $1.6 billion. Mind you, this was just from the period of October 2008 to February 2009. The reason I say “overpaid” is because under new rules, those payments wouldn’t have been allowed to go to these executives.
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