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The House hearings on TARP saw the bosses of the nation's eight major investment banks sit through "a grilling that lasted all day," according to NBC's Kelly O'Donnell. Depending on whose numbers one uses, the eight have received $160bn (CBS) in capital infusions from the federal bailout or $125bn (ABC) or $165bn (NBC). CBS' investigative correspondent Sharyl Attkisson focused on $4bn of that amount--the year end bonuses paid by Merrill Lynch "just before getting swallowed up by Bank of America." ABC had its business correspondent Betsy Stark cover the hearings: "These bankers painted a surprisingly sunny picture considering the crisis the government has described." NBC's O'Donnell, a Congressional correspondent, heard a contrite tone instead, "sorry for real world effects like credit card rates going up and loans for homes and small businesses so hard to get."
ABC's Stark ran a montage of soundbites on these executives' expectations at Christmas time: "There will be no bonus"…"No bonus"…"Zero bonus"… "Zero bonus"… "No bonus"… "No bonus"…"My bonus is zero." CBS' Attkisson listed the current annual salary of Vikram Pandit, the Chief Executive Officer of Citigroup, as did NBC's O'Donnell: "$1."
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