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Notable Names in (mis-)Finance
September 17, 2008 6:55 pm Finance, TV, Taxes
Richard Fuld
CEO Lehman Brothers
Made $354,000,000 - Million Dollars from 2004-2007
As reported in Forbes 400 Richest American People
$466,000,000 - Million while At Lehmann Brothers (NY Times)
John Thain
CEO Merrill Lynch
Came on in 2007
at $50,000,000 - Million a Year
With estimated earnings of $100,000,000-$120,000,000 Million a Year
Associated Press Reported he made $93.1 Million Dollars and Earned the Title of "Highest Paid CEO Among the S&P Companies"
Stan O’Neal
Former CEO Merrill Lynch Ran for more than 5 years before John Thain and deserves recognition for the current financial mess.
Also was the first Black Man to Hold the Top postion of a Major Investment Firm.
In 2006 earned $48,000,000- Million Dollars
Sept 2007 Merrill Lynch reported $8,000,000,000 - Billion in Losses
Oct 2007 O’Neal Retired "out of the blue" and took with him a severance pakage of $161,500,000 - Million Dollars
James Cayne
CEO Bear Stearns
Architect of Financial Behemoth Collapse
Forbes Reports Cayne earned $138,000,000 Million Dollars between 2003-2007
The Day after J.P. Morgan Chase Make the Deal to buy his Firm (Bear Stearns) and the deal is backed by the Federal Reserve a.k. Taxpayers Treasures, he sold all his shares and made over $66,000,000 Million Dollars.
This is beyond gross oversight and extremely loose regulation.
