Golden Parachutes: How the Bankers Went Down
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When high-ranking executives are fired from a company, for whatever reason, they don’t go to the back of the unemployment line. Instead, they typically receive compensation in the form of the “golden parachute.” Golden parachutes can include severance pay, cash bonuses, stock options or other benefits. In the case of the financial crisis and the ensuing bank failures, if it seems like these executives are being rewarded for poor performance, you may be right. Here’s a look at what some bankers made on their way down.
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RAJEEV TIPS 504 days ago
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bb 500 days ago
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Larry Underwood 495 days ago
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the baldchemist 489 days ago
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abc 484 days ago
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Tigaba 456 days ago
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els ct 311 days ago
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« Previous 1 2This is robbing companies in broad day light.. wish i too got one of these..:)
Capitalism does not have to be evil…but it is. When the masses of people get to the point where they do not buy into the b.s. American capitalists promote, the house of cards will collapse. More and more, I see people opting to move away from materialism and explore the values held in human relationships and community. If you keep playing a rigged game, and others don’t ever seem to win…they will quit playing the game. I know I have. I will not be a slave to “markets”. I am a creation of an Almighty God and every need I can ever encounter has been supplied before I even came to birth. We enslave ourselves by following low desires…Pride, Greed, Jealousy. Love does not produce these things. Be ye not conformed to this world, but be ye transformed by the renewing of your mind. That is man’s greatest tool of civilization. It is not, nor will it ever be the greed of this world’s wealthy.
Wow, I was in the wrong line of business for 26 years. I left a company that was making tons of money (at the time), but due to a lack of foresight in planning their compensation plans, paid guys like me way too much money, although the money I earned was commission based; and based strictly on net profit for the company.
My last year on the job (2000), I was raking in close to $4 million, so they decided to “retire” me with what I thought was a nice package…It pales in comparison to what some of these bankers were getting…for losing money.
Still, I’ve got no complaints, although with the recent financial disaster, my retirement is coming to an end, but at least I had time to write an interesting and irreverent book on life in Corporate America (“Life Under the Corporate Microscope”).
You know,just about everyone who uses the net and claims to be an entrepeneur has desired these sort of paydays. So let’s stop being so bloody hypocritical.
I don’t like the fact that they walked away with fortunes after failure but then again I wasn’t in that position.
The sadness derives from short sellers and hedgefund workers and the fact that they have screwed the pensions of millions of ordinary people who had been misled into letting these fraudsters look after their money.
Lets get real about this. it is impossible to make 10-15% per annum on investments without someone having to pay.
Sorry America but when the dollar ceases to be world currency of choice and everyone unloads a highly inflationary dollar you are in deep deep shit.
The dollar will have to be devalued by at least 30% to bring it back into line.
Just rememeber when you judge these corporate parachutes, how many of you decided to borrow money to buy homes and cars that were impossible to repay and then ask yourselves how much your greed contributed to the awful mess you are in. How thankful you were that they offered the too good to be true loans.
Take a good long hard look at how much your personal debt is… thanks to your own judgement.
Get well soon. The Baldchemist.
Fly me to the moon on a golden parachute.
They have really tried. we call them robbers of the century
Unbelievable!!! It makes me mad to think that these people leave with so much money, caring a hoot its impact on financial stability. Make them work for it – pay in installment if you must, over a long period of time. Hey – shouldn’t these be specified in their contract of employment.