BlackVoices History Quest: Augusta, Georgia
Pastor Poised To Be First Black To Lead Southern Baptists
How much excess cash was lavished on these execs? Try $1.6 billion. Mind you, this was just from the period of October 2008 to February 2009. The reason I say "overpaid" is because under new rules, those payments wouldn't have been allowed to go to these executives.
I don't even want to think about what the average bonus or cash salary must work out to for these guys (and yes, they are mostly men).
This is yet another reason to reform executive compensation in America. Sound off on the topic below.
Lynnette Khalfani-Cox, an award-winning financial news journalist and former Wall Street Journal reporter for CNBC, has been featured in the Washington Post, USA Today, and the New York Times, as well as magazines ranging from Essence and Redbook to Black Enterprise and Smart Money. Check out her New York Times best seller 'Zero Debt: The Ultimate Guide to Financial Freedom.'
Comments: (5)
Add a comment
By: diamond on 7/29/2010 5:33AM
When banks don't loan out,unemployment rates are high and people have and still are being foreclosed on.Guess what? I recall one CEO at a party on live TV (2)years ago and she was asked how she felt about the huge cash bonus she had just recieved? She stated I worked for it.Yes but how many peoples lives did you help to destroy to get it? Wake up people the money is not lost it was taken. Mr. President do your thing,people if you want to keep getting the change that is taken place then keep voting.Mr. Obama is making a change for us all and not anyone in particular.(Holla)
Reply to this Comment | Report This
By: Rob on 7/29/2010 3:49PM
I wonder where Obama's main campaign contributions came from? According to this link http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=n00009638 it was banks.
Reply to this Comment | Report This
By: LJ on 7/30/2010 2:00PM
Apparently we cant trust our system once again. 2012 will be either a shift in human consciousness or a down fall for the world as we know it. Yeah we better work on saving that mulah!
Reply to this Comment | Report This
By: lee on 8/02/2010 9:56AM
What 17 banks were they!!!???
Reply to this Comment | Report This
By: arriethom1 on 12/27/2010 3:37PM
Wall Street still haven't learned its lesson and government will continue to support them because the politicians are the inverstors of wall street. Their investments are the ones that will suffer if they don't help the executives get a big payday. The politicians are talking out of both sides of their mouths. Telling you that they are working for you while doing under the table deals with the Wall Street bankers.
Reply to this Comment | Report This