[Liz]

Fired for bungling its books....Raines gets a $26 million parachute — not counting a monthly pension of $116,300 for life. owns options giving him $5.8 million in net profit plus another $8.7 million in deferred compensation......has already collected $4.87 million in special performance shares....keeps $5 million paid-up life insurance. Mr/Mrs get free med/dental benefits for life, worth over $1 million. Raines earned $20 million in salary, bonuses and stock awards last year ......says he's entitled to paychecks til next June 22 adding another $600,000, which triggers a $2,000 monthly raise in his lifetime pension......also lays claim to disputed options with a gross value of about $5.6 million ......wants F/M to match his charitable contributions by $10,000 a year.

[sevry]

$26 million

I thought it was a LOT more than that.

earned $20 million

Earned, is a pretty strong word. Granted. Grifted, is probably more accurate.

Mr/Mrs get free med/dental benefits for life, worth over $1 million.

If either or both require extensive care, particularly ICU, I can tell you that hospitals LOVE to charge, and love to charge more. One million wouldn't get you very far. But free, without any limit on payout - that would be some freebie benefit indeed. Five weeks ICU, 10 MRIs, every test imaginable, transpo to and from, live-in nurses with complete in-home facilities, etc.

It's really just not right. The man messed up, and messed up very badly on his job. He shouldn't be rewarded like a king for that.

[ladyjane]

I wonder if this guy will go to prison? Probably not. Fastow and his wife (Enron) haven't gone yet, have they? But Martha Stewart sits in a cell today - probably to draw attention away from our newest robber barons.