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The article
Three former CEOs of U.S. banking giants are currently facing tough questions by American lawmakers over the size of their salaries. In particular, why their earnings, bonuses and leaving packages were so high when the companies they headed were doing so poorly. Ex-Merrill Lynch CEO E. Stanley O’Neal and Citigroup’s Charles O. Prince III resigned from their companies in late 2007 with million-dollar golden goodbyes. This is despite the fact that the corporations they headed lost billions of dollars and low-income homeowners lost their homes in America’s housing collapse. Democrat Henry A. Waxman said America was an unequal society. “Most Americans live in a world where economic security is [uncertain] and there are real economic consequences for failure. But our nation’s top executives seem to live by a different set of rules, he said
Three former CEOs of U.S. banking giants are currently facing tough questions by American lawmakers over the size of their salaries. In particular, why their earnings, bonuses and leaving packages were so high when the companies they headed were doing so poorly. Ex-Merrill Lynch CEO E. Stanley O’Neal and Citigroup’s Charles O. Prince III resigned from their companies in late 2007 with million-dollar golden goodbyes. This is despite the fact that the corporations they headed lost billions of dollars and low-income homeowners lost their homes in America’s housing collapse. Democrat Henry A. Waxman said America was an unequal society. “Most Americans live in a world where economic security is [uncertain] and there are real economic consequences for failure. But our nation’s top executives seem to live by a different set of rules, he said
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