Biggest CEO Losers are winners

[marmar]

from the Dollars & Sense blog:



Biggest CEO Losers are winners
by Dollars & Sense


Even when their companies go belly up, Wall Street's former kings won't have to count on their unemployment checks.

The Wall Street Journal (we only read it for the articles), has a wonderfully infuriating list of CEOs of failed or failing giants who have made out, quite literally in some cases, like bandits while their investors have been left holding the bag.

Some of the highlights:

Angelo R. Mozilo, former CEO of the former mortgage giant Countrywide Financial pocketed $470 million. Richard S. Fuld Jr., ex-honcho of the ex-Lehman Brothers walked away with $184 million and change in compensation. James E. Cayne, ex-head of Bear Stearns, only got a whisker over $163 million. The list goes on, but it's too depressing to detail here.


http://www.dollarsandsense.org/blog/2008/11/biggest-ceo-losers-are-winners.html

[zeemike]

1. You have to be sad when someone louses their job

How can those poor people make it on 163 mil?

[KharmaTrain]

2. I Can't Wait For The Lawsuits To Start...

There's gonna be a booming industry in lawsuits coming up against these goons...lets see how much of his golden parachute remains after he's forced to spend millions on lawyers and cash payouts.

While the Justice Department and Treasury sit on their asses, those who've been screwed sure won't. I've already read of class actions being formed against Washington Mutual and Countrywide for managerial fraud...and I suspect there are many others out there as well.

[gizmo1979]

3. That should be the

list of people going to Jail.I think they are terrorist,therefore they can be sent to guantanamo without trial.

[tabbycat31]

4. that's why we need to do something about

executive compensation. I personally think that if a company wants a bailout, all executives will be immediately terminated and forced to surrender last year's bonus, plus any golden parachute, lose their pensions, etc. And all of teh corporate jets, etc should be sold. The execs can fly commercial in coach class.

The new executives will be hired at a maximum rate of 10X the lowest employee's salary. So if the janitor makes $7 an hour, then the maximum the CEO can make is $700 an hour.