The New York Times logo The New York Times 21 months ago

3 Executives Face Questions in Congress on Pay

WASHINGTON Three prominent financial executives were summoned before Congress on Friday to face questions about the huge paydays that they earned from the subprime mortgage boom, even as their companies have lost billions of dollars and thousands of... Full Article at The New York Times

Related Topics:

  1. Merrill Lynch
  2. Citigroup
  3. Henry A. Waxman

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    WASHINGTON: Three prominent financial executives were summoned before the U.S. Congress on Friday to face questions about the huge paydays that they earned from the subprime mortgage boom, even as their companies have lost billions of dollars and... Full Article at International Herald Tribune

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Related Quotes

  1. There seem to be two economic realities operating in our country today
    Henry A. Waxman – Henry A. Waxman SOURCE: The New York Times 21 months ago
  2. With executive compensation you get what you pay for and you pay for what you get
    SOURCE: The New York Times 21 months ago
  3. As a matter of policy, Towers Perrin is engaged for executive compensation consulting assignments by a company, either its management or the board or both, but not an individual executive ... Countrywide Financial engaged Towers Perrin and Towers Perrin neither represented nor acted as a personal advoca...
    SOURCE: Los Angeles Times 21 months ago
  4. I think there's merit to pay for performance ... But it seems like C.E.O.'s hit the lottery even when their companies collapse.
    Henry A. Waxman – Henry A. Waxman SOURCE: Conde Nast Portfolio 21 months ago
View all Related Quotes »
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  1. Former chief executive of Merrill Lynch, John Thain, speaks at the Reuters Global Finance Summit in New York November17, 2009.
  2. WASHINGTON - NOVEMBER 17: Thomas May, member of the Bank of America Board of Directors, testifies during a joint hearing before the House Oversight and Government Reform Committee and its Domestic Policy Subcommittee November 17, 2009 on Capitol Hill in Washington, DC.
  3. WASHINGTON - JUNE 25: Federal Reserve Chairman Ben Bernanke testifies during a House Oversight and Government Reform Committee hearing on Capitol Hill June 25, 2009 in Washington, DC. The committee is hearing testimony on events surrounding Bank of America's acquisition of Merrill Lynch.
  4. WASHINGTON - JUNE 11: Kenneth Lewis, CEO and president of the Bank of America Corporation participates in a House Oversight and Government Reform Committee hearing on Capitol Hill June 11, 2009 in Washington, DC.
  5. NEW YORK - OCTOBER 1: Vice chairman at Merrill Lynch William J. McDonough attends 2008 Global Leadership Awards gala at The Waldorf-Astoria Hotel October 1, 2008 in New York City.
  6. NEW YORK - SEPTEMBER 16: Traders work on of the New York Stock Exchange (NYSE) September 16, 2008 in New York City. In trading yesterday the Dow Jones Industrial Average fell 4.4% or 500 points, its worst single day loss since the terrorist attacks in September 2001.
  7. NEW YORK - SEPTEMBER 15: Traders work on the floor of the New York Stock Exchange September 15, 2008 in New York City. In afternoon trading the Dow Jones Industrial Average fell over 500 points as U.S. stocks suffered a steep loss after news of Merrill Lynch & Co.
  8. NEW YORK - SEPTEMBER 15: New York Mayor Michael Bloomberg speaks at a City Hall news conference September 15, 2008 in New York City. Bloomberg discussed the city's financial situation following the collapse of Wall Street icons Lehman Brothers Holdings Inc. and Merrill Lynch & Co.
  9. A man walks out of Merrill Lynch's headquarters in New York on September 15, 2008. Bank of America announced Monday it was buying Merrill Lynch for 50 billion dollars in stock, scooping up the Wall Street icon battered by the housing and credit crisis.

Cast of Characters

  1. Merrill Lynch Merrill Lynch
  2. Citigroup Citigroup
  3. Henry A. Waxman Henry A. Waxman
  4. Stanley O'Neal
  5. Charles Prince Charles Prince
  6. U.S. Congress U.S. Congress