Like pigs at a trough, the US banks were wallowing in US government bailout but at the same time, they were handing out perks to their executives that had taken them to the brink of disaster. While 8 million jobs have been destroyed in this recession, perks for executives at the bailed out banks rose 4%.

The Washington Post reports:

"Some chief executives, such as Kenneth D. Lewis of Bank of America and Jeffrey M. Peek of CIT Group, the major small-business lender now on the brink of bankruptcy, each received about $100,000 more than a year earlier for personal use of corporate jets. Others saw an increase in the value of chauffeured services, parking or personal security.

"Ralph W. Babb Jr., chief executive of Dallas-based lender Comerica, was compensated for a new country club membership, with an initiation fee and dues of more than $200,000. GMAC Financial Services chief executive Alvaro de Molina benefited from a $2.5 million payment from his company to help cover his personal tax bill.

"On average, the chief executives at 29 of the largest public financial companies that have taken bailout funds received perks and benefits worth more than $380,000 in 2008, according to compensation figures included in annual proxy statements and supplied by Equilar, a compensation data services firm. Individually, about half the banks increased their fringe benefits to the top executives. The figures do not include relocation costs and related taxes, typically one-time fees that can skew year-over-year comparisons."

So chauffeured cars, corporate jets and other little perks, all provided through the generosity of US taxpayers. Another example of the US Government propping up dead banks walking.