CEOs Booted With Insane Bonus And Severance Packages!

I was reading Chris Puplava's market wrap, Why So Depressed?, when I came upon the following passage.

• In case you hadn’t heard, real wages for the average consumer have DECLINED this decade unlike Wall Street heads who have been showered with multi million dollar bonuses. They have received these bonuses as a reward for helping expand the financial economy’s largess to produce a generational credit bubble and for selling our asset-backed slime all over the world, damaging our financial institution’s credibility in foreigners’ eyes. Those same Wall Street CEOs have been punished for their crimes by getting the boot with outlandish bonuses and severance packages as the small list below highlights.



• 1. Lloyd Blankfein: Goldman Sachs Group Inc. – $67.9 million bonus received in 2007.
• 2. Charles Prince: Citigroup Inc. – Retires with a $42 million package in 2007
• 3. Stanley O’Neal: Merrill Lynch & Co. Inc. – Retires with $161.5 million in 2007
• 4. Angelo Mozilo: Countrywide Financial Corp – Retirement package of $23.8 million, while refusing to accept $37.5 million severance package in 2007
• 5. Martin J. Sullivan: AIG - $47 million severance package received in 2008

Holy Cow!

This is ABSOLUTELY MADNESS!!!!!!!!!!!!!!! TOTALLY INSANE!!!!!!!!!!!!!!!!

And if there was something that needs to be fixed is these disgustibating, grotesque and outlandish CEO pay packages!!