[Julio E. Sune, Jr. (FL)]

Laughing all the way from the bank
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A rogue’s gallery of the execs who cashed in on the boom and bust:

Joseph Cassano, AIG Financial Products Executive, 1997-2008. Claim to fame: Mr. Credit Default Swap. In 2008, his unit cost AIG $99 billion. (AIG then paid $1.5 billion in bonuses and awards.) QUOTE: Before the crash; “It was hard for us…to even see a scenario within any kind of realm of reason that would see us losing $1 in any of those transactions. His bonus, 2008: $34 million. His haul, 2000-2008: $280 million. AIG Tarp: $69.8 billion. Additional bailout: $112 billion.

Vikram Pandit, Citigroup CEO, 2007-present. Claim to fame: Ordered a $50 million private jet, announced huge layoffs, and jacked up credit card APRs-after getting bailed out. QUOTE: Told Congress last February, “My salary should be $1 per year with no bonus.” Didn’t mention that he took $$1.6 million in stock options as Citi lost $18.7 billion in 2008. His haul, 2008: $10.8 million.

Robert Rubin, Citigroup Board of Directors, 1999-2009. Claim to fame: As Clinton’s treasury secretary, he pushed to overturn regulations prohibiting finance-bank hybrids such as …Citigroup. QUOTE: Wishes he could have reined in Citi but “I didn’t know what I could have done” as just a board member. His haul, 1999-2009: $124 million. Citi’s Tarp: $45 billion. Additional bailout: $328.7 billion.

Ken Lewis, Bank of America CEO and President, 2001-2009. Claim to fame: Okayed $3.6 billion of Merrill Lynch bonuses when buying the troubled firm. Said he’d return $1 million in past earnings, but still gets $53 million pension. QUOTE: He’s against regulating “the banks that caused this mess” because they’d been “held accountable by the toughest, most unforgiving master of all: the free market.” His haul, 2008: $10 million. His haul, 2001-2007: $145 million. B of A’s Tarp: $45 billion. Additional bailout: $18.1 billion.

Jamie Dimon, JPMorgan Chase CEO and President, 2005-present.Claim to fame: Cutting comments (“That’s the dumbest thing I’ve ever heard!”) and cuttings perks (“You’re a businessman. Pay for your own Wall Street Journal.”)QUOTE: Over lunch at the Four Seasons: “Corporations can waste a tremendous amount of money. It’s destructive. It’s wrong.” His haul, 2008: $19.7 million. His haul, 2005-2007: $95.7 million. JPMC’s Tarp: $25 billion (repaid.) Additional bailout: $73.1 billion.

Lloyd Blankfein, Goldman Sachs CEO and Chairman, 2006-present. Claim to fame: Oversaw Goldman’s risky bets on the housing bubble, then turn the investment firm into a bank so it could get Tarp money. QUOTE: Says the financial industry looks “self-serving and greedy in hindsight” but that he’s been doing “God’s work.” His haul, 2008: $42.9 million. His haul 2006-2007: $114.4 million. Goldman’s Tarp: $10 billion (repaid.) Additional bailout: $43.4 billion.

John G. Stumpf, Wells Fargo CEO, 207-present. Claim to fame: Made a tidy $12.6 million in first six months on the job. QUOTE: Asked before Congress about his 2007 pay, he conceded that he’d gotten $67 million in stock-but “at the values that pertained in 2007, which wouldn’t look familiar to you now.” His haul, 2008: $13.8 million. Wells’ Tarp: $25 billion. Additional bailout: $13.4 billion.

John J. Mack, Morgan Stanley CEO, 2005-2009, and Chairman, 2005-present. Claim to fame: Earned the sobriquet Mack the Knife by slashing jobs. His battle cry: “There’s blood in the water; let’s go kill!” QUOTE: Told Congress, “If you gave me no bonus in the best year, I would still be here,” but later griped that smaller post-bust bonuses led to “an exodus of key people.” His haul, 2008: $1.2 million. His haul, 2005-2007: $77.7 million. Morgan’s Tarp: $10 billion (repaid) Additional bailout: $25.9 billion.

John Thain, Merrill Lynch CEO, 2007-2009. Claim to fame: Asked for a $10 million-plus bon us as Merrill lost $27.6 billion in 2008. Then redid his office for $1.2 million and approved bonuses all around. As the firm’s hidden debts nearly scuttled its sale to B of A, he headed to Vail. QUOTE: Bonuses were “the right thing to do for the reward of the people who were performing.” His haul, 2007: $83.1 million. Merrill’s Tarp: $10 billion. Additional bailout: $6.8 billion.

Source: SEC filings and market data. Research by Krisztina Ugrin. Mother Jones

[Workbox]

And still, many of these guys are making decisions for the taxpayer. The Modern Day Barons.