“They have nobody to blame but themselves.”
For example, on 5/3/07 the CEO of Lehman Brothers had a salary of $52 million, on 4/30/08 since he probably knew he was toast it was raised to $72 million, on 4/22/09 it was zero and goodby.* In 07 the CEO of Countrywide Financial’s salary was $142 million. The next year, sensing trouble, in was only $103 million. Too bad, 09, zero and goodby.
For survivor Bank of America the 3 years read $100M, $20M, and $12.5M. For Wells Fargo (which absorbed Wachovia) $72M, $13M, and $1.4M. What amazes me is the Goldman Sachs figures of $37M in 07, double to $74M in 08, and still a large $26M in 09. Were they that good, or that dishonest, or had that much influence? Inquiring minds want to know.
*Check out “Forbes CEO Compensation” for the dates listed in first paragraph for more interesting CEO information.
And - alot of those salaries were donated to the DNC and many other RAT candidates, including Zero, Dud and Schmucky. They held fundraisers and, walked Zero around as somebody they can deal with.