punter Posted October 1, 2008 Share Posted October 1, 2008 here are the real people benefiting from government bailouts, no doubt we have similar going on in the UK http://www.cnbc.com/id/26959512 Stanley O'NealTotal: $161 million Company: Merrill Lynch Merrill Lynch ousted O’Neal from his position on Oct. 28, 2007 shortly after the company reported $8 billion in write-downs. John Thain replaced him as CEO. Charles Prince Total: $105 million Company: Citigroup Prince resigned from his position on Nov. 4, 2007 after the company announced $11 billion in write-downs. Angelo Mozilo Total: $100 million Company: Countrywide Mozilo stepped down from the CEO spot on July 1, 2008 after leading Countrywide for 39 years. Bank of America bought the troubled mortgage lender in Jan. 2008. Kerry Killinger Total: $44 million Company: Washington Mutual Killinger was removed as CEO on Sept. 8, 2008. He was replaced by Alan Fisherman, who led the company for three weeks until the bank was seized by the FDIC and sold to JPMorgan Chase. Ken Thompson Total: $42 million Company: Wachovia Thompson was removed from his position on June 1, 2008 following questions about a major acquisition as well as heavy losses. Once the fourth largest bank in the US, Wachovia was later bought by Citigroup in Sept. 2008. Richard Fuld Total: $24 million Company: Lehman Brothers Fuld’s four-decade career with Lehman ended Sept. 17, 2008. The investment bank filed for chapter 11 bankruptcy protection, the largest such case in US history. Alan Fishman Total: $19 million Company: Washington Mutual Fishman was paid $19 million for three weeks of work. He joined WaMu on Sept. 8 and left on Sept. 25, 2008. The bank was seized by the FDIC -- the largest bank failure in US history -- and parts of it were bought by JPMorgan Chase. Richard Syron Total: $16 million Company: Freddie Mac Freddie Mac, led by Syron until Sept. 8, 2008, was taken over by the federal government along with Fannie Mae. James Cayne Total: $13 million Company: Bear Stearns Several months after two hedge funds collapsed, Cayne stepped down from the CEO position on Jan. 8. Bear Stearns was bought by JPMorgan Chase in a Fed-engineered deal in March. John Thain Total: $9 million Company: Merrill Lynch Thain served as CEO of Merrill Lynch for less than a year, before Bank of America bought the investment bank for $50 billion on Sept. 14, 2008. Daniel Mudd Total: $8 million Company: Fannie Mae Fannie Mae, led by Mudd until Sept. 8, 2008, was taken over by the federal government along with Freddie Mac. Robert Willumstad Total: $22 million (was declined) Company: AIG Willumstad reportedly rejected a $22 million severance package from troubled insurance giant AIG. He was replaced as CEO on Sept. 17, 2008 after the company received an $85-billion loan from the federal government in exchange for a 79.9 percent stake in the company. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted October 1, 2008 Share Posted October 1, 2008 To get quality you have to pay top dollar. You couldn't get quality like that off the street. I'd like to you get a bloke of the street and pay them a mere $100K a year and see if they'd do any better... Quote Link to comment Share on other sites More sharing options...
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