March 22, 2009

As credit markets froze, banks loaned millions to insiders

Bonuses have kicked up a huge fuss in Washington, but almost nothing has been said about another perk for banking's insiders -- loans. Even as the credit markets froze last year, the amount of money Bank of America, JPMorgan and Wachovia loaned their executives and directors soared. Banking experts say such loans should be publicly disclosed.

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