Minow Executive Pay | Commentary: Wall Street finally got what it deserved

February 5, 2009 by frankls
Filed under: Hot Topics

Commentary: Wall Street finally got what it deserved
They asked for it.

Wall Street had every possible opportunity to fend off government interference in executive compensation, but they bungled it through a combination of arrogance and ineptitude.
Remember the Chrysler bailout of 1979? With the then-unheard-of credit guarantee of $1.5 billion? Lee Iacocca established instant confidence and credibility by taking $1 a year and escalated stock options.

Excerpt from Commentary: Wall Street finally got what it deserved – CNN.com

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