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Keyword: bankexecutive

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  • This Bank Executive Took TARP Money, Never Paid It Back, Now He'll Get $18 Million If He's Fired

    02/04/2011 7:50:45 AM PST · by SeekAndFind · 5 replies · 1+ views
    Business Insider ^ | 02/04/2011 | Courtney Comstock
    Can't get paid until your company pays back its TARP debt? Rather get fired than have to worry about paying it back? Get another company to pay the debt off for you! That's exactly how 5 execs from Marshall & Ilsley Corp (a bank holding company) plan to get paid, according to The Business Journal. CEO Mark Furlong, for example, would not get paid the $18 million "golden parachute" package that he has written into his contract with M&I if the company changes control (aka, he leaves) while it still has to pay back TARP. The same would happen to...