Sunday, March 22, 2009

Golden parachutes of bankers

Title: Golden Parachutes: How the Bankers Went Down
Source: Mint
Date: 2/24/2009

From the article:
    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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