Executives at Bailed-Out Banks Are Awash in Company Perks

Several $100,000 payments for personal use of corporate jets. A $200,000 gym membership. A $2.5 million company reimbursement to cover personal taxes. Chauffeurs and personal security. These are just a few of the high-dollar perks that executives at bailed-out banks have received this year, the Washington Post reports. On average, executives at the 29 largest bailed-out firms took $380,000 in corporate perks last year, a 4 percent increase despite going through a market crash and taking a combined $350 billion in bailout money.

But the benefits and bonuses may not keep coming this year if Kenneth Feinberg, President Obama's "pay czar," gets his way. In June, the Treasury Department prohibited companies from reimbursing senior executives for their personal taxes. Later this month, Feinberg plans to halt perks like payment of country club fees when he rules on compensation. He will pay particular attention to compensation bonuses over $25,000.

A few companies have adjusted their compensation to maintain at least an illusion of concern about public outrage. Bank of America announced this year that its employees would no longer travel by corporate jet. SunTrust Bank did away with bonuses, but boosted executive pay to offset the cuts.