And no more golden parachuites for the CEOs and corp. officers that mostly created this mess.
The Fannie & Freddie guys got an obscene amount for what ? Failure.
That is not correct. The CEO’s were following bullshit guidelines that forced this fail. Washington forced it and everybody pays.
I share your anger at watching corporate execs destroy companies then leave with multi-million dollar payouts.
But... These payouts are part of their employment contract. I don’t know how you go back and modify those contracts after the fact. The proper place to lay the blame is Boards of Directors who approve senior executive plans that include golden parachutes without tying those benefits to company performance.
As much as I hate to see CEOs get fired with huge payouts, I’d hate having the gov’t intervene in these contracts even more. For every CEO who’s run a company into the ground, you can find several who have made plenty of money for their shareholders.
BTW. If any corporate boards are looking for an exec to run their companies into the ground, I’m willing to do it for you for only a couple million.