Albert Meyer

Bank Executive Compensation and the Bailout

The Norwegian government considers stock options a criminal activity. The German government wants to clamp down on stock options. Avoid companies that use options to transfer wealth from shareholders to insiders. Pity Countrywide is not on the list - stock option abuse at its very worst. Respected mutual funds owned loads of Countrywide. American workers, trying to provide for their retirement, entrusted their hard-earned wages to these managers, who in turn thought they were investing in Countrywide. In fact, they were bailing out management, who were offloading their stock, took the money and ran, right under the eyes of the SEC and our lawmakers.