YMCA

Bank Executive Compensation and the Bailout

Since the huge bonus paid in the past years were paid on wrong profits or wrong stock performances, now that the real profits and stock performances are known, these executives should be asked to return the extra bonuses received in excess of the real figures.

Regulatory authorities should not hesitate to ask for reimbursements, mainly in the financial sector. After all the wrong figures were obtained after they forgot the basics of credit or lending. Any new college or university graduate in business administration would have done a better job than those "GENIOUS". Anyone with a reasonable banking experience would have predicted the financial disaster that we got and that is not over yet.

All those in executive positions closed their eyes on what was happening because of the nice bonus attached to a higher level of activity or profits. What is the difference between what happened in the financial sector and the Enron, Nortel, etc..who saw some of their executives ending in prison and having assets seized.