Ugh! Subprime Follies and Profits to the CEOsSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Ugh! Subprime Follies and Profits to the CEOs
 


21 November 2007 at 2:34:13 PM
salon

I was reading an article about how the heck the bankers managed to screw up so badly on the mortgage industry (gee, I can tell them that! How about some REGULATION and don't friggin give mortgages to people who cannot afford the payments????) Anyway, this stuck out.

Not anymore. Prince resigned on Nov. 4 with a golden parachute worth an estimated $43 million. His resignation came days after Merrill Lynch CEO Stanley O'Neal was forced out, taking with him compensation worth $160 million. Neither man had "dirt under the fingernails" experience in the complex mortgage-finance market.

Must be nice. You can be a total screwup, as Prince was, in charge of Citigroup, and have to resign but still get a dang golden parachute package worth FORTY THREE MILLION DOLLARS!!!! And, boo-hoo, Merrill Lynch's CEO, who you'll notice was FORCED OUT, got ONE HUNDRED AND SIXTY MILLION DOLLARS. So I guess as he was being forced out the door, he pried open everyone's wallets!


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Comments

salon > Quick update on this, via Pacer-Click on pic to see larger (Turk Case Update- Telephone Conference Hearing Set for March 8 2019 )

salon > Lance Been awhile. Send me an email at salon@glenrose.net with the names of who you're talking about, above. Also, the newspaper editor is no longer local, ie officed here, but the paper is run.... (What Happened to Jerry Jacene? )

LanceHall > I'd love to see the Hotel Guest books and see if Jacene's name shows up long before he officially *found* the tracks.  I'd like to know if the Visitor's Bureau has emails wit.... (What Happened to Jerry Jacene? )

LanceHall > I see the land or that part of it is now in the hands of Glen Rose's own Corky Underwood. Is Jacene still involved?   I had already informed the Visitor Bureau manager (who's.... (What Happened to Jerry Jacene? )








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