CEO's that need a beating

TOP 10 LIST of Financial Jerks that should be in Jail



1 Angelo Mozilo Countrywide
Bank of America looking to buy Countrywide. Questions of how much liability they will aquire.

The CEO of Country wide Angelo Mazillo could have cared less about the problems of the average jo He sees no responsiblity in this. Yet he has a number of homes, millions in retirement packages. A fleet of cars and eats lobster every night. Yet a mother committed suicide in Massachusetts because she had a hard time paying her mortgage. Big business is not concerned about you! remember they need you to make their money! Heads need to roll!

2. Daniel Mudd Fannie Mae Wishes he had not been such a “Legislative Slut”
Mudd was dismissed as CEO of Fannie Mae when Federal Housing Finance Agency stepped in as conservator on September 7, 2008. The government has advised him that his severance package will not be paid. Not to worry, he took care of himself.

3. Richard Syron Freddie Mac
The New York Times reports that Freddie Mac (NYSE: FRE) CEO Richard Syron ignored warnings four years ago that Freddie was taking on too much risk by underwriting poor quality mortgages and that its capital base was too thin.
Did Syron get paid millions of dollars to take orders from Congress? It's not clear why that should be such a high paying job. Nor is it clear why American taxpayers should pay the price for Syron's inability to manage Freddie. While $38 million -- .0048% of the bailout -- seems like a drop in the bucket compared to the magnitude of the problems, it looks like Syron made the decisions that created the need for the bailout.
4. James Cayne Bear Stearns Dumps 5.6 million shares-his entire stake a day after JPMorgan quintuples it’s bid for the troubled Bear Stearns. Amid rumors questioning Bear Stearns' financial health, Bear Stearns turned to the Fed, which asked JPMorgan to funnel funds to the embattled investment bank that the government would provide. Two days later, with the government fearing that Bear Stearns' unraveling would send widespread panic through the financial markets, JPMorgan agreed to purchase Bear Stearns


5. Richard Fuld Lehman Bros. Check this jerk out on UTube Ran his Company into ground through subrime lending. Lehman shareholders get zip-nada-nothing. He gets 480 million. Before the Senate oversite committee he says” When company did well, my people did well, when company did poorly, my people did poorly” He forgot to mention that when company did poorly, he did rather well. His theory is Privatize the gains and socialize the loses.

6. Martin Sullivan AIG AIG received 85 billion bailout from the taxpayers to rescue the insurance giant. Sullivan, a week later held weeklong boardmeeting at exclusive California resort and spent $440,000.00 of their gov’t windfall. The course of action that week was to figure their compensation package. He personally got 5 million bonus.
Sullivan took over as CEO of AIG in 2005 Under his watchful eye, the company never showed gain. The 4th quarter of 2007 AIG lost 85 billion

7. Stan O’neal Merril Lynch
To recap, O'Neal went full throttle into the subprime mortgage market at the height of the real estate market. He failed to consult the board on a major acquisition and has shafted the company's shareholders and will be richer beyond most people's wildest dream because of it. His Golden Parachute is worth 250 million

8. Kerry Killinger WaMu Killinger, who was stripped of his chairman title in June, became CEO of the Seattle-based thrift in 1990 and built WaMu into one of the country's largest banks. But with a heavy focus on subprime and option adjustable-rate mortgages -- the types of mortgages at the heart of the housing bust -- WaMu's losses began to mount and its shares plummeted, sparking an outcry from shareholders. His compensation in 2007 was 14.7 million. Should we Jail him or the Board of Directors?

9. Kennedy Thompson Wachovia
Thompson will step down after 32 years of service after having made a series of untimely - and ultimately disastrous - decisions that have cost the company nearly half its market value over the past year.
Shareholders began clamoring for Thompson’s removal in April after the company announced its first quarterly loss in seven years and cut its dividend by 41%. Issues were compounded on May 6, when Wachovia announced a first-quarter loss of $708 million, 80% more than the bank had previously reported.
The company has marked down $5 billion in mortgage and other debt-related assets, and recently announced it would cut up to 500 jobs. Wachovia stock has plummeted about 40% year-to-date. His compensation was a mere 16.5 million

10. Charles Prince Citigroup
Charles "Chuck" Prince, the deposed head of Citigroup, is in line to walk away from the Wall Street giant with a total pay, perks and shares payout worth just under $100 million, it has emerged.
The payout for Mr Prince, who stays on as a consultant until the end of the year, include a pro-rata cash "incentive award" currently estimated to be worth $12 million.
It also includes $10,716,469 in restricted share awards and $16,046,703 in stock options that will automatically vest at his departure.
Mr Prince, whose exit was sealed late last week, already owns 1.61 million shares in Citi, currently worth about $53 million.