ASSOCIATED PRESS: Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits in 2007, an Associated Press analysis reveals. The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance but still forked over multimillion-dollar executive pay packages. Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management, the review of federal securities documents found.The total amount given to nearly 600 executives would cover bailout costs for 53 of the 116 banks that have so far accepted tax dollars to boost their bottom lines. MORE
WIKIPEDIA: The expression, “Living the life of Riley” suggests an ideal life of prosperity and contentment, possibly living on someone else’s money, time or work. Rather than a negative freeloading or golddigging aspect, it instead implies that someone is kept or advantaged. The expression was popular in the 1880s, a time when James Whitcomb Riley‘s poems depicted the comforts of a prosperous home life. MORE