Monday, Oct 24th

Last update05:20:13 AM 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.


Most Recent Related Stories...

Gannett to lay off two percent of workforce

Gannet to lay off 2 percent of workforceGannett, the largest U.S newspaper company, is cutting another two percent of its workforce. That cut,...

Deutsche Bank faces new blow as Justice Department demands record $14B

Deutche bankDeutsche Bank faces the prospect of having to tap shareholders for more cash after the U.S....

SEC charges hedge fund manager Leon Cooperman, Omega Advisers with insider trading

SEC charges hedge fund operator with insider tradingBillionaire Leon Cooperman and his Omega Advisors hedge fund were charged Wednesday with insider trading, the...

Robots will eliminate 6% of all US jobs by 2021, report says

Robots to eliminate 6% of jobsBy 2021, robots will have eliminated 6% of all jobs in the US, starting with customer...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!