The Nation - News from Nov. 3, 1985
Regulatory documents say the national Farm Credit System, which asked the government last week for a bailout of up to $6 billion, has given its top executives salary boosts of 50% or more since 1980. The system’s regulators contend the salary increases for the chief operating officers of its regional banks are needed to attract and keep talented managers. But Sen. J. James Exon (D-Neb.) called the pay scales arrogant in a system that is asking the taxpayers to provide a financial life preserver. Pay scales for the top executives now range from $84,000 to $233,500.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
