Wall Street Executives Paid to FailBy
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: