PNC squanders bailout money on exec bonuses

In the bailout jumble, the big banks have learned one thing: Ask, and ye shall receive.

They've also proven another maxim: Receive, and ye shall waste. At least if you're a big bank.

PNC Financial Services Group was a major recipient of federal bailout money. How is PNC spending this taxpayer dough? By giving its top execs - including its CEO - bonuses worth millions. The CEO gets a bonus of $3,000,000 - courtesy of American taxpayers.

If a bank was floundering so badly that it truly needed a bailout, why would execs even deserve a bonus? Especially one funded by taxpayers?

Talk about a reverse Robin Hood!

PNC also used bailout money to buy a smaller bank. So our tax dollars are getting used to foster monopolies too.

Oh, did I mention that PNC also has ties to the Bush royal family?

(Source: http://www.reuters.com/article/bondsNews/idUSN136517920090214)