James E Cayne, CEO of Bear Stearns made $38.31 million last year, $155.26 million over the past 5

[PA Democrat]

Let him empty his own bank accounts first. Seriously, make the pig cash in all of his assets to be put toward the bailout of his company before one stinking cent of taxpayers' money is spent.

James E Cayne, CEO of Bear Stearns

Total Compensation
$38.31 mil

5-Year Compensation Total
$155.26 mil

Cayne, James E has been CEO of Bear Stearns Cos ( BSC) for 14 years. Mr. Cayne has been with the company for 38 years. The 73 year old executive ranks 5 within Diversified Financials

http://www.forbes.com/lists/2007/12/lead_07ceos_James-E-Cayne_9X3I.html

[flor de jasmim]

1. That's what I was going to say...

plus, give back the other perks (cars, housing, etc.)

[Selatius]

2. The Federal Reserve is not a government entity at all. It is a private for-profit corporation.

It's name is a misnomer in that regard. It is not a government entity. The Senate OKing fed chairman is little more than just a formality to complete the illusion that it works in the interest of America. In reality, it works in the interest of the shareholders who own the Federal Reserve. Whenever you hear of the Fed bailing out a bank, it's really one bank bailing out another bank, not the government bailing out a bank.

[PA Democrat]

8. Except with the scope of this mess it could very well be the taxpayers who foot the bill, once again

like we did during the S&L crisis of the late '80's and early '90's.

[hatrack]

10. It's just that this'll be, oh, five or ten times bigger, that's all.

:mad:

[PA Democrat]

12. Lots of other impact to consumers, too. Here in PA the Pennsylvania Higher Education Assistance

Agency has suspended student loans due to ... you guessed it, the effects of the subprime mortgage crisis on the bond market.

[KamaAina]

14. The S&L crisis? You mean the one with the Keating Five?

Yeah, this sure would be a swell time to put one of the Keating Five in the White House... :sarcasm:

[PA Democrat]

15. Yep, one and the same.

[PA Democrat]

3. And here's another candidate for a good healthy dose of "personal responsibility"

Angelo R Mozilo, CEO Countrywide Financial

Total Compensation
$141.98 5 mil

5-Year Compensation Total
$295.73 mil

Mozilo, Angelo R has been CEO of Countrywide Financial ( CFC) for 9 years. Mr. Mozilo has been with the company for 38 years and is its Founder. The 68 year old executive ranks 1 within Diversified Financials

[Ian David]

4. But think of all the money he saved the company by not buying paperclips and rubberbands. n/t

[DemocratInSoCal]

5. He Couldn't Have Seen It Coming

If you think that he is going to give back 1 CENT of the money he made.....well, you're a typical naive citizen.

GET A CLUE!!

That money is long gone, and he'll get bailed out by the Fed, and will take whatever additional money he can before leaving.

[shraby]

6. They both should be tried for fraud and

a stiff jail term if found guilty. They are in the same league with Enron and the S&L scandal.
They are responsible for the decisions their companies made in perpetrating the fraud upon the public.

[DemocratInSoCal]

7. Yeah, But We're Not In Charge

In reality, they're the bosses, and we're the peasants.

I've finally begun to realize that fact.

When you have enough power, you can get away with ANYTHING. I'm sure that unlike one of the "peasants" his company is foreclosing on, he won't lose any sleep, and will be living the good life for years to come.

That's just the way our society works these days. Unfortunate, but true.

[PA Democrat]

9. Sweetie, I worked in the banking industry for more than a decade. I have more than a clue

about what goes on. If you seriously think that some of these guys were unaware of the risks they were taking you are the one who is naive.

[shraby]

11. They were aware as much as Ken Lay and Shilling

were, and every bit as guilty of fraud and grand theft.

[PA Democrat]

13. Yep. And people were sounding alarm bells for years to rein them in.

Lest anyone should forget: The Tightening Credit Market: A Chronology of Warnings Ignored

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=3008686&mesg_id=3008686

[aquart]

16. 38 million? The Bear Stearns settlement was 37 million.

Less than a year's pay for one executive. Yeah, big settlement.

And then went straight back to business as usual.

[PA Democrat]

17. Update on Mr. Cayne. He retired from Bear Stearns in JANUARY of this year.

Convenient timing, no?

Tue Jan 8, 2008 6:28pm EST

NEW YORK--(Business Wire)--The Bear Stearns Companies Inc. (NYSE:BSC) announced today that
James E. Cayne has informed the board of directors of his desire to
step down as chief executive officer, effective immediately. While Mr.
Cayne will retire from the firm, he will stay on as chairman of the
board of directors and will be succeeded as chief executive officer by
Bear Stearns president Alan D. Schwartz.

"Jimmy has much to be proud of -- under his leadership Bear
Stearns has grown substantially over the past 15 years, with revenues
increasing to $7 billion from $2 billion and the number of our
employees more than doubling to 14,000," said Vincent Tese, Bear
Stearns lead independent director. "This was his decision, and we are
very pleased that he has agreed to stay actively involved in the
business as chairman of the board."

http://www.reuters.com/article/pressRelease/idUS253042+08-Jan-2008+BW20080108

[DFW]

18. This is highly inefficient cost managment.

I would have run the company into the ground
for half the $38 million Cayne got last year,
and I'll bet I could have gotten the job done
a lot quicker, too. I realize that this might
have bumped me into a high tax bracket, but,
well 60% of $19 million is still over $11 million.
It would have involved some cutting corners with
regards to my gas budget, but that is about it.......

[PA Democrat]

19. LOL. You're probably not qualified. You aren't greedy enough.

[DFW]

21. Rats. There's always some catch. I shoulda known......

[opihimoimoi]

20. i pity the Pol who votes to bailout that fucking Co....they ate their earnings when it was good

now that its the other way...let them eat their losses too...and may his name go down in the Hall of ASSHOLES

[Initech]

22. See this is exactly what is wrong with this country.

This scum fuck is making $155 million for practically running his company into the ground (and he'll probably get a generous retirement package) and then there are some people who can barely afford things like housing, health care, and transportation. :grr: :mad: :grr: