And really, why not? Just because his company is still floundering and his industry is not lending money - as they were supposed to do with the massive handouts - he really worked hard. Definitely harder than me or you. You don't deserve a pay raise though because you're not part of the privileged elite who can't fall down no matter what screwup they churn out. The bank has such little regard for the White House that it didn't even bother to consult the pay czar. Imagine that. Another banker kicking sand in the face of the president because they know the consequences will be minimal. For the brilliant minds working inside the White House, this is precisely what annoys the public. It's good to be da king.
Bank of AmericaChief Executive Brian Moynihan will be paid $950,000 a year for his new job, the Wall Street Journal reported on Wednesday.
The bank's board of directors has approved the salary, which is 19 percent more than Moynihan's 2008 base pay, according to the Journal.
Moynihan will not receive a bonus for 2009, the Journal reported, citing sources familiar with matter. Pay czar Kenneth Feinberg was not consulted, the source said.
