Photos: CEOs Golden Parachutes From Failed Firms

No bonus, no stocks, no salary, for those CEOs of failed companies. They should pay back all what they own the company, and for punitive damages caused to the US economy. When a borrower defaults in a mortgage loan, the bank foreclosures the property and gets it back to resell and recover some or all the loan. A similar principle should apply to CEOs compensations. This is the only way to stop this/

One thing that pisses me off - you know these guys are voting Republican. If you'd tried to regulate them two years ago, there would have been SCREAMING about "socialism" and "unfairness" and those damned liberals. Now that they're going bankrupt, socialization seems fine and dandy as long as they get their parachutes.

Cut the parachute strings and give these jackasses some McDonalds' employment applications.

This article just infuriates me. I really dont want them to get anything and I agree with alicecah, let them use their golden parachutes to pay for this. Why do we have to reward bad behavior? They got themselves in this mess, now deal with it.

Save the homeowners! The government should put a hold on all foreclosures. The people that weren't in default before the interest rates on the ARM's rose should be able to save their house. The government should force the loans to revert back to the original rate. The government could then guarantee the mortgage just as it does with FHA, only at a higher limit. If the taxpayers have to get a bill, this will be lower, the housing market will adjust and the big money players can play an win or lose with their own money not the taxpayers.

If the problem is the faulting ARM mortgages, and the government must step in to protect our housing market, why doesn't the government put a hold on all foreclosures and make the banks reduce the interest rates on the loans to 2% above the origination rate. Then allow all the homeowners who were not in default until the rates went up to be able to save their homes. The government can guarantee the mortgages of 500,000.or less as if it were FHA only a higher limit. And let the money brokers take their losses or get the hell out. just as they do with FHA mortgages

Hundreds of billions here a trillon here and there; you get 11 TRILLION in national debt
A depression is the answer to get rid of all the lifelong politicians of both parties
Bail out; AIG, Lehman, Fannie, Freddie, Countrywide, Enron, it is just FIAT currency and while we are at it bail out GM, Ford, Chrysler, Citi, Wamu...and you get?

A few hundred billion here a trillion there We need a major depression to clear congress of the eternal politicians of both partiesWe have 11 TRILLION in national debt
The average citizen would be in jail for such
AIG, Fannie, Freddie, Lehman, Countrywide, throw in GM, Ford, Chrysler, Enron....bail everyone out



W

There should be no Bail Out. The "Market" should be left to correct itself.

Will there be a national catastrophe? Yes, probably; but that would happen eventually even with federal intervention. It would simply happen ... later. What we are now experiencing has been in the works for generations and the American people will not benefit from the fall-out being indefinitely postponed and passed along to future generations.

The best thing that could happen to America is for all of us to be reduced to eating canned dog food for a few years; out of such hardship springs the creativity and inventiveness of the American genius. Just as Henry Ford began a new industry working in his garage, new entrepreneurs will create superior new technologies & industries in their own garages and the American Dream will continue.

Remember: What doesn't kill you makes you stronger!

Screw these guys.

If they're waiting on payouts from government bailouts, *** them. Nobody in the American public signed on to pay off the guys who *** us over for eight years. Most people scrape by and these jokers can buy and sell islands.

That's a feudal system. We're over it.

By my calculations, $571,000,000,000.00 (571 million) in direct payout and $3,000,000,000,000.00 (3 billion) in one other stock deal. And that is just the payout. Doesn't include salaries and bonuses over the years.

I am an average American. Close to retirement, but too sick to work anymore. Husband still working. Financial responsable: Have 65% equity in home, cars old, but paid for, $600 in credit card debt, still contributing to IRAs, 401K, 3 month cushion in savings. Barely floating it, but we are doing better than most. We are so screwed.

We should have taken the money and taken the exotic vacation we wanted, bought the new car we wanted, got that bigger, fancier house with all of the furnishings. All of our saving and sacrificing will go to pay even more money to these clowns.

A Perspective on Financial Market Feedback Loops!

This topic is only indirectly connected to Chagora but is part of the broader viewpoint from which it arose. So I briefly discuss this here.

Put simply.... All profits are not equal and this has not been sufficiently attended to.

For instance,

There is the profit in a zero sum game:
If we each have $5 and we wager that on the flip of a coin.
The result! One ends up with $10.... (a $5 profit) and the other guy has nothing.

And there is productive profit:
One has $5... he takes it, buys some clay and tools, makes a clay pot and sells it to someone for $10.
The result! One ends up with $10 (a five dollar profit) and the other guy has a CLAY POT!

It is from the second type of profit that successful civilizations are built.

What has happened on a world scale, and encouraged by either stupid or corrupt financial and political systems, is a failure to recognize the difference and to construct incentives to favor Productive Profit!

This is an oversimplification and there is legitimate functionality for zero sum transactions in financial markets but that's for a longer discussion.

The rich and powerful always got away with grand larceny. Let a poor person steal some food to stave off hunger, however, and he's arrested for stealing. America is not a democracy, it's a corporate oligarchy.

The rich always get away with grand larceny. If a poor person steals some food to stave off hunger, though, he's arrested for stealing. What we have here is a corporate oligarchy, not a democracy.

They should be forced to return the millions in bonus's and salaries they've gotten. There needs to be something to prevent these folks from walking away from the mess they created without consequences otherwise it's self-perpetuating. There's been claims that the high salaries are needed to attract the best talent. So much for that theory, huh? High salaries and bonus's only attracted the biggest scam artists.

The man pictured in the left frame on slide 4 is not Robert Willumstad. He is in fact Edward M. Liddy, former chairman of Allstate and newly elected chairman of AIG. Newsweek should correct the photo or the caption.

I think your picture is incomplete: where are Franklin Raines, Jamie Gorelick, Janet Reno, Barney Frank, Chris Dodd, Nancy Pelosi, Bill Clinton and Jimmy Carter?