As Bad as the Banksters

[Donnachaidh]

http://www.dailykos.com/storyonly/2010/3/20/848246/-As-Bad-as-the-Banksters

This is just obscene.

The insurance giant Cigna last year gave compensation packages worth more than $120 million to two executives who left the company, according to a filing with the SEC on Friday.

The vast majority of that total went to former chairman and CEO H. Edward Hanway who left his post with a retirement package worth $110.9 million -- which included $18.8 million in executive compensation for 2009, as well as a healthy pension plan, deferred compensation and stock options.

While, as Sam Stein notes in that article, Cigna hasn't made headlines recently for huge rate hikes, as many of its competitors have, it's still pretty damned galling. The next stand-alone insurance reform bill introduced should prohibit the funds insurers receive as a result of the mandate from going to executive compensation.

[Uncle Joe]

1. In my book, this is worse, that 120 million is literally blood money.

How many people lost their health care for those bonuses?

How many people died?

Thanks for the thread, Donnachaidh.

[OhioChick]

2. "Obscene" is putting it mildly n/t

[upi402]

3. Friday nws dump. Weekend news cancellation.

"old news, we need to move on..."


meh

[bvar22]

4. When the Democrats give the Health Insurance Industry...

...their Trillion Dollars, the Health Insurance Execs will be able to move into the same NEW Aspen Summer Home Neighborhood as the Wall Street Bankers!

You shouldn't begrudge them their wealth.
Look at all the Baseball players.
After all,"Its the Free Market!!!

The Giant Invisible Hand will Save Us ALL!!!
(And people say the Democrats are Anti-Religion)