After Huge Losses, a Move to Reclaim Executives’ Pay | WHAT REALLY HAPPENED


After Huge Losses, a Move to Reclaim Executives’ Pay

The New York Times GRETCHEN MORGENSON Feb 21, 2009

As the financial crisis deepens, what might have been a philosophical question is now the topic of the day. With losses mounting at the nation’s largest financial institutions, years of earnings have been erased, investors have lost billions, thousands of employees have been let go, and taxpayers have been tapped to rescue the financial system. But executives who helped set the problems in motion, or ignored them as they mounted, are still doing fine. Humbled, perhaps, but well paid for their anguish.

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