It's got to suck to be a former UBS exec these days, but payback is a bitch. CNN reports that some $18.45 million that was paid out in bonuses to the executives that oversaw the hideous losses that the bank incurred is to be paid back. Yep, that's right. And that brings the total payback amount to $59 million over the past year.
Maybe some of the failing US banks and investment firms should follow UBS's lead and try to recoup some of the money that they pissed out to the CEO's and other higher ups while they were busy covering up the real numbers and running their companies into the ground. How about we let the executives fund the bailouts instead of the damn taxpayers.
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