Photos: CEOs Golden Parachutes From Failed Firms

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  • Posted By: CathieC @ 09/20/2008 12:11:44 AM

    Also per the picture...the first one.. notice how they all have their right hands up taken the oath to tell the truth, nothing but the truth, so help them God... notuce the 2 on the end, with smiles on their slimy faces.. They know that they have gotten away with it... They will all probably get up Sunday morning, go to church to show what good Christians they are!!!!! AMEN....

  • Posted By: CathieC @ 09/19/2008 11:59:07 PM

    Per the pictires on the first page.. these scammers got $961.49 million in payouts.. this does not include their bonuses, nor their pay.... yeah... that would put a big dent in the bailouts.... is there any way to bring suit against these slime balls?.. We know the government is not going to do anything to them, accept maybe pat them on the back and tell them good job fellas!! I wonder how much the folks on capitol hill made from this B.S?

  • Posted By: johnpsix @ 09/19/2008 11:53:44 PM

    Federal legislation must be implemented for publically traded companies to highly restrict CEO and other corporate executive officers salaries and bonuses to caps that cannot be exceeded based on two major factors: 1-average salary of all employees within the company and 2- the annual profit or loss of company profits and other equity. To make this work, if the law is violated then mandatory prison time and a confiscation of private assets should take place. Also, under no circumstance should a company takeover be allowed that would gut the corporation and lay off the work force. America is not for sale, only the goods produced are for sale!! Further, most CEOs have no more business talent than a PTA president. Almost anyone with a high school education, common sense, and maturity could probably do a decent job running a major corporation upon getting familiarity with the business. This country's CEOs have people fooled. They belong to an elite club through their networking and protect their territory like medieval warlords! These pompous money grubbing asses need to be barred from ever conducting business in a publically traded company for the rest of their lives. Now, will any of this happen? No, because they and their kind provide bucks to a bought off Congress that is also made up of the same type of characters for the most part. So what is the solution? It will naturally come as a result of the country diving into an irreversible financial collapse. Only then will the common citizen have enough kahones to actually fire Congress and get non politicians into office who will do what is right for America. Obama and McCain will not be capable of doing the job because of the fools they carry with them ( Sarah Pallin excepted. She appears to be closer to the real thing than this country has had since Teddy Roosevelt!). Well, store your winter wheat, clean your rifle and keep your powder dry because when it comes to a financial crash that will shake all of this out you ain't seen nuthin yet!

  • Posted By: yregan @ 09/19/2008 11:50:05 PM

    biscodriver, you are a fool.

    • Posted By: biscodriver @ 09/19/2008 11:52:35 PM

      snappy comeback.

  • Posted By: biscodriver @ 09/19/2008 11:50:00 PM

    Fannie Mae was a disaster and it was run by Obama's economic adviser. He took $100mil in pay. I haven't heard a peep out of the media on that one.

  • Posted By: yregan @ 09/19/2008 11:49:17 PM

    CEO's are compensated in a number of ways and it is simply not necessary to deliver a big bonus should things not work out. If they are being paid to take risks in highly risky positions then pay them on the font end and reward them for success, punish them for failure. Having led several companies through turn arounds, removing the consequences to one's bad decisions sets up the wrong priorities and virtually guarantees bad decision making. I have absolutely no respect for my fellow Chief Executives who make bad decisions and walk with unearned rewards. CE's who don't look past the next quarters reports should be taken out and shot (figuratively of course).

  • Posted By: biscodriver @ 09/19/2008 11:48:30 PM

    The biggest fraud was in Fannie Mae and that guy is advising Obama!

  • Posted By: habib123 @ 09/19/2008 11:46:28 PM

    jail and throw the keys away!!!!

  • Posted By: whatsgoinon @ 09/19/2008 11:45:45 PM

    How do these people sleep at night,I'm a common american working family man trying to make ends meet.My life is working long shifts day and night to trying provide for my family,and I thank GOD that I can.I have been working for the same company for 21 years only to see my pension cut out and my wages and benefits decline IF??? I retire I will only be paid 30$ per year of service for 20YEARS I am 43 years old and I operate a machine that is worth millons of dollars and very good at it. Here's were my problem is if I make a mistake ,which I don't I would get fired.If a CEO makes a mistake he will get a raise or a NEW TITLE. Lets remember what this country was built on hard working honest people , not million dollar theives

  • Posted By: Emperor wears no clothes @ 09/19/2008 11:44:12 PM

    Thanks CathieC. If I hear Sam Waterson proclaim nauseatingly one more time for TD Amertrade that "Independence is the spirit that drives America's most successful investors." I will vomit. Trading stocks is speculating not investing. Mr. Waterston, Warren Buffet will teach you the difference. He will quote Benjamin Graham the author of "value investing: You are very transparent Mtr. Waterston. Anything for a buck.

  • Posted By: cattiekit @ 09/19/2008 10:49:27 PM

    AIG goes under, and *that's* where my husband's 401K is. Although I believe those CEOs didn't get squat for severance. I still think they should be sued for every last dime they made running this company into the ground.

    • Posted By: tinsnip13 @ 09/19/2008 11:41:24 PM

      I think Sullivan got a 20+ million dollar bonus in 2007.

  • Posted By: final judgment @ 09/19/2008 11:39:23 PM

    Thats what I like about this country stupid people have comments too

  • Posted By: Rene1954 @ 09/19/2008 11:37:01 PM

    I can be fired without reason and walk out with nothing. It should be the same for CEO's, etc. They were hired to run the company, I think CEO's pay is a crime and middle class Amercia is paying for them by losing their jobs. Do you realize how many people could be put back to work with one CEO's salary, that would probably do more for our economy than one CEO? They would be purchasing goods and services, and heaven forbid maybe could pay for their morgage. Housing foreclosures come about by people losing their jobs and the income to pay for them. And how many companies have downsized in America and sent those jobs overseas........... Talk about killing the middle class American.......

  • Posted By: joeryan425 @ 09/19/2008 11:36:16 PM

    In the case of Freedie Mac and Fannie Mae why are people so focused on the CEOs? These two institutions were heavily regulated by Congress through oversight committee. What is the point of government regulation and oversight when the government is pushing these companies into making bad business decisions? It was the government pushing bad policies for years telling these institutions to lend money to people who had no means to pay the money back.
    Shame on Newsweek for not reporting the truth and publishing a lame article trying to deflect the blame and failure away from the Democrat controlled Congress and onto scapegoat CEOs. What did the Democrat presidential hopeful want to do about the problem? He wants to have more government regulation and oversight. That???s right, have the people responsible for the problem in charge of making sure it doesn???t happen again.
    Sure the CEOs should take some of the blame, but you can???t ignore the big blue donkey in the room. An independent special prosecutor needs to be appointed and certain members of Congress on these oversight committees need to be heavily investigated, prosecuted and put in jail!

  • Posted By: glassdream @ 09/19/2008 11:32:32 PM

    They failed and thus should not be paid for failing. They should have been fired with no compensation the same as you or I. The money in their payoff's probably could have saved the companies. What did they pay in blackmail? They obviously have lost contact with anyone that has to make their own money.

  • Posted By: BabkaKing @ 09/19/2008 11:29:00 PM

    Wake-up people! The U.S. Congress caused this mess and is allowing the Federal Reserve, a non-governmental branch (BANKS!!!!), to throw our money at the problem. Ask yourself... why this didn't happen before? It's because Republicans and Democrats, over the last 12 years lifted the safeguards, put in place in the financial industry to avoid another Great Depression, so leading money would be easier and more lucrative for them and the lobbyists (banks and other corporations) who put them in office. Who is telling you to hate corporate CEOs? The government! The U.S. citizens fell for the oldest confidence game; fraudulent scheme. They just handed over their money and bought the bridge to nowhere. So now the so-called "governmental corporate investigations" are misleading the people, as if they are going after the executives of these companies, and are looking into investors. By the way... that's you and me.

    This is just another fear tactic to get you to side with them the same way they wanted us to hate the oil companies. The CEOs have a contract with the shareholders and a deal is a deal. In the end we should be focusing all our "hate" energy on the U.S. Representatives who allowed this to happen while they sat on their asses because of an election. This is a marketing perception game between the U.S. Government and Global Corporations, and the American People. Please do as much reading as you can on both sides of the issue to see through their BS. Both parties are one and they are riding the greed train to the top 1% with our hard-earned time and money.

  • Posted By: remember Lafayette @ 09/19/2008 11:26:22 PM

    they all should be put in jail for the rest of their lives including their spouses and children. I refuse to pay taxes in order to bail those despicable bastards. We bailed the trifts, the airlines that now are screwing us, Chrysler which should disappear for stupidity, and now the maffiosi of Wall Street. Anyway it is the end of the empire. Our own stupidity, letting incapable crooks being elected, created tha mess. We deserve all the misery trhat is going to hit us.

  • Posted By: CathieC @ 09/19/2008 11:25:56 PM

    I agree whole heartedly with you, Emperor wears no clothes.. before long we will all be Emperor WITH NO clothes.... What has happened to OUR BELOVED COUNTRY? I know... GREED....

  • Posted By: Emperor wears no clothes @ 09/19/2008 11:22:17 PM

    Since the U.S. taxpayer will now be a major shareholder of these delinquent corporations, will the U.S taxpayer be able to call the shots when hiring, firing and establishing severance packages for current and newly appointed executives? The U.S. taxpayer now should share in dividends and capital gains and should be able to write off part of their income taxes for investing in businesses and reap all financial benefits associated with investment.

    • Posted By: BabkaKing @ 09/19/2008 11:25:42 PM

      Unfortunately the money will stop at your U.S. Representative's office so you may need to visit his/her estate.

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