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CEOs who got out before crisis left with millions
Fonzworth:
And the least to blame are left holding the bag
Stanley O'Neal walked away from Merrill Lynch with a package now worth about $66 million. Less than a year later, the storied investment house was forced into a takeover by Bank of America.
Ken Thompson was ousted from Wachovia in June with a "golden parachute" now worth more than $5 million, and Chuck Prince was forced out at Citigroup with a parting gift now valued at $16 million.
"At many of these companies, there are new CEOs and they didn't cause the problems," said Lynn Turner, former chief accountant at the U.S. Securities and Exchange Commission and now an independent business consultant. (And they are the one's suffering from the fallout)
Meanwhile, the former CEOs who accepted fat severance packages from the banks at the heart of the crisis are long gone.
http://news.yahoo.com/s/ap/20080925/ap_on_bi_ge/bailout_ceo_pay
>:(
Lubab:
This makes me so angry. We are witnessing such a crime against humanity of unimaginable proportions.
muman613:
--- Quote from: Lubab on September 25, 2008, 10:43:42 PM ---This makes me so angry. We are witnessing such a crime against humanity of unimaginable proportions.
--- End quote ---
I dont understand why people are so upset. In this country a company has the imperitive to be profitable. To run a profitable company requires good CEOs and they need to recruit the best. So they do and pay them good salaries to cause the companies bottom line to be profitable for the shareholders. What is evil about this? I have no problem with this.
The fact that the company collapses because of economic and political conditions doesnt immediately mean that the CEOs who left and took the deals which was made with them according to their contract. This is not illegal, nor is it immoral.
My brother himself worked for Lehman Brothers and Merril Lynch. He worked hard for those companies and made them profitable. This is why he was so well paid and worked at the top of the World Trade center. He was the Managing Director of a division of Cantor Fitzgerald and he made Millions of dollars a year {much more than I can dream of making}. I dont think it is fair to judge these people so harshly.
muman613
Lewinsky Stinks, Dr. Brennan Rocks:
Muman, please don't forget that the vast majority of these corrupt, bamboozling CEOs are Jew-hating WASPS (a few are self-hating traitor Jews, too).
muman613:
--- Quote from: C.F. on September 26, 2008, 01:44:32 AM ---Muman, please don't forget that the vast majority of these corrupt, bamboozling CEOs are Jew-hating WASPS (a few are self-hating traitor Jews, too).
--- End quote ---
CF,
I surely realize that. When I last talked with my father he was saying that my brother got along with several of these WASPy CEOs. My brother was friends with everyone. I dont want to speculate why my brother was taken from us, but there are reasons which I see which explain it to me personally {I will not share them}.
muman613
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