With Government Rescue Banks Earns a Lot

For the taxpayer in the financial crisis, rescued banks according to a report stand to earn a lot .

About 200 bankers from money houses with government aid would reap more than 500,000 euros a year,  the Frankfurter Allgemeine Sunday newspaper said in a preliminary report. Although tens of millions in salaries are extremely rare , the paper quoted an accountant as giving salaries in the millions range.

The government rescue fund SoFFin had limited the annual executive compensation at 500,000 euros per manager and bonuses deleted. For the second level there are no mandatory requirements.  According to FAS chairman Martin Blessing at Commerzbank 50 bankers will earn upwards of the 500,000 euros.

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