earlier:
As lame-duck Senator Chris Dodd pushes through symbolic reform under the auspices of the privately-owned Federal Reserve, regulators who actually work for the government received big bonuses for "overseeing" the big banks. Corruptible system or criminal enterprise?
WASHINGTON — The government has given millions of dollars in bonuses to its bank regulators.
The payments are detailed in payroll data released to The Associated Press under the Freedom of Information Act. They are the latest evidence of the government's false sense of security during the go-go days of the financial boom. The regulators received taxpayer-funded bonuses despite missing or ignoring signs that the system was about to melt down.
The bonuses were part of a reward program little known outside the government. Some government regulators have received tens of thousands of dollars in perks, boosting their salaries by almost 25 percent.
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