Andrew Cuomo, the New York State Attorney General, said there is clear no rhyme or reason to the way banks compensate their employees as he broke down the 2008 bonuses. Financial News highlights the payouts at six banks where more than 4,600 people received a bonus of at least $1m (€710,000) despite receiving taxpayers' funds.

Cuomo said in the report: "Our investigation suggests a disconnect between compensation and bank performance that resulted in a 'heads I win, tails you lose' bonus system."