Lehman Brothers Boss Defends $484 Million in Salary, Bonus

[AFA]

In the first Congressional hearing into the financial crisis, the former CEO of the bankrupt Lehman Brothers, Richard Fuld, became the poster boy for Wall Street greed today as he defended the $484 million he received in salary, bonuses and stock options since 2000.

"Is that fair?" asked committee chairman Rep. Henry Waxman (D-CA) who pointed out Fuld owns a mansion in Greenwich, Connecticut, an ocean front estate on Jupiter Island, Florida, a ski chalet in Idaho and a Manhattan apartment.

Lehman Brothers Holdings Inc. Chief Executive Richard S. Fuld Jr., testifies before the House Oversight and Government Reform Committee on Capitol Hill in Washington, Monday, Oct. 6, 2008, on the collapse of Lehman Brothers. Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday.
http://abcnews.go.com/Blotter/story?id=5965360&page=1

 

[hedonis]

I'm no socialist, and certainly the CEO of a company should make more than the peons, but...

484 million dollars. Just say it-

Four hundred eighty four MILLION dollars. I would think that salary would be appropriate for someone who did something we could actually take note of.

Like... curing cancer.

H

 

[Will E Worm]

I'm no socialist, and certainly the CEO of a company should make more than the peons.

:nono:

But, how much more?

There's no justification for a 484 Million dollar salary, bonus.

 

[tubuler]

If a CEO can earn that much money by running his company into the ground, I wonder what a CEO of a profitable company can earn? Must be in the billions.

God I can't wait til I finish my MBA. Maybe one day I too can become wealthy being a crummy corporate officer.

 

[Facetious]

"Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday."

Did he actually attempt to defend this, as well ?
I suppose that after a while, it becomes a numbers game and they simply cannot help themselves, but that's really something, requesting fed rescue as a cover ? or what ?
That's really salting the wound ! This cretin should see at least 10 cold ones, not beers either ! It pains me to think about the little investors who might have lost his or her entire accounts - > their life savings.


Did you watch any of the interrogation , AFA ? I think that it's AIG today !


These guys (CEOS) are the best though, you know ? What the he!! does a lowly congressman know about the internal affairs of these mega corps ?

 

[don_equis]

Come on! You know most congressmen got a piece of that yummy money pie smashed somewhere in their pockets.

 

[AFA]

If a CEO can earn that much money by running his company into the ground, I wonder what a CEO of a profitable company can earn? Must be in the billions.

God I can't wait til I finish my MBA. Maybe one day I too can become wealthy being a crummy corporate officer.

The profitable ones make as much as the failing ones. It's don't get caught!

K-Mart was tipping bankruptcy as the result of a lot of bad moves by their CEO. He was then let go after a $25M bonus within about a year of taking over.

"Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday."

Did he actually attempt to defend this, as well ?
I suppose that after a while, it becomes a numbers game and they simply cannot help themselves, but that's really something, requesting fed rescue as a cover ? or what ?
That's really salting the wound ! This cretin should see at least 10 cold ones, not beers either ! It pains me to think about the little investors who might have lost his or her entire accounts - > their life savings.


Did you watch any of the interrogation , AFA ? I think that it's AIG today !


These guys (CEOS) are the best though, you know ? What the he!! does a lowly congressman know about the internal affairs of these mega corps ?

AIG is today.