ood day for: Getting bailed out, as top executives at the 20 banks that received the largest federal bailouts were paid 40 percent more than their counterparts at other Standard & Poor's 500 companies, according to a report from the Institute for Policy Studies. On average, the CEOs of the bailed-out banks -- which collectively have laid off 160,000 employees since early 2008 -- took home $14 million last year, compared to $10 million for CEOs at other companies. (Bloomberg)
Bad day for: Instant gratification, as BP on Wednesday announced a huge find -- 1 billion barrels of recoverable oil under the Gulf of Mexico -- but said it could take three years to start bringing the crude to the surface. And since the oil is six miles deep and expensive to extract, oil will have to be selling above $70 a barrel to make drilling profitable. (The New York Times)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why is American internet so slow?
- 7 ways to be the most interesting person in any room
- What would a U.S.-Russia war look like?
- What the collapse of the Ming Dynasty can tell us about American decline
- 22 TV shows to watch in 2014
- Colorado’s new ‘drive high, get a DUI’ commercials are actually pretty clever
- Who are the real gay marriage bigots?
- Ukraine's fraught relationship with Russia: A brief history
- Don't worry: World War III will almost certainly never happen
- Sorry Belle Knox, porn still oppresses women
Subscribe to the Week