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Wall Street Executives Paid to Fail

Politicians want the $700 billion bailout of Wall Street to curb the compensation of the CEOs of financial services companies who participate. Given the massive scale of the financial crisis, such a condition, to some, looks like quibbling.

But San Diego State University accounting professor David DeBoskey has just done some number crunching that tells a different story. He figured out that the top executives in AIG, Freddie Mac, Fannie Mae, Lehman, and Goldman earned a total of $2.1 billion over the past several years.

Below is his spreadsheet, for anyone who is curious:

Download file

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