Brief History: Executive Pay

Mauricio Alejo

When the news broke in January that wall street executives were paying themselves handsomely for piloting the U.S. economy into a mountainside, President Obama's response was unequivocal. "It is shameful," he said. Ten months later, even as he moved to curb bailed-out execs' pay, banks are on track to pay employees a record $140 billion this year. Andrew Hall, a star trader at Citi's commodities unit Phibro, made headlines for what could be a $100 million payout. "Frustrating," said White House chief of staff Rahm Emanuel with a sigh, appearing on CBS's Face the Nation on Oct. 18.

Critics of lavish...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!