TV News LIES

Friday, Aug 22nd

Last update09:27:15 PM GMT

You are here News Economy Wall Street Executives Made $3 Billion Before Crisis

Wall Street Executives Made $3 Billion Before Crisis

E-mail Print PDF

Wall Street's five biggest firms paid more than $3 billion in the last five years to their top executives, while they presided over the packaging and sale of loans that helped bring down the investment-banking system.

Merrill Lynch & Co. paid its chief executives the most, with Stanley O'Neal taking in $172 million from 2003 to 2007 and John Thain getting $86 million, including a signing bonus, after beginning work in December. The company agreed to be acquired by Bank of America Corp. for about $50 billion on Sept. 15. Bear Stearns Cos.'s James ``Jimmy'' Cayne made $161 million before the company collapsed and was sold to JPMorgan Chase & Co. in June.

More...


Most Recent Related Stories...


BofA in $16.5 billion deal with U.S. over mortgage bonds

Bank of AmericaBank of America Corp is expected to pay more than $16.5 billion to end investigations into...

Cisco to cut another 6,000 jobs as forecast falls flat

Cisco layoffsCisco Systems Inc (CSCO.O) forecast tepid current-quarter results and said it plans to cut another 6,000...

Labor sharks sink teeth into low-wage immigrant workers

Wage theftWhen Ophelia Hernández, a 53-year-old clothing store owner from El Salvador, got working papers to come...

Report: 18 firms hold a third of US wealth

major corporations in USIncome inequality is a hot political topic and a report showing that a small number of...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!