Ex-Wall Street CEOs still living large

Five years after Lehman Brothers' bankruptcy plunged the global economy into chaos, over 11 million Americans remain unemployed — including nearly all Wall Street CEOs at the center of the crisis.  But none of the executives have faced any criminal charges nor appear to be suffering for their contributions to the worst recession since the Great Depression.

 

 Quite the contrary. The former CEOs of Wall Street’s biggest firms circa 2008 are “living in quiet luxury,” according to a report this week by The Center for Public Integrity.  The 5 former CEOs examined by the Center – Dick Fuld (Lehman Brothers) Jimmy Cayne (Bear Stearns), Stanley O’Neal (Merrill Lynch), Chuck Prince (Citigroup) and Ken Lewis (Bank of America) -- took home nearly $1.5 billion in total compensation from 2000 to 2008.

 And Yet Congress is attempting to cut five billion dollars from the 'Food Stamp' budget

 

 

Jimmy Cayne

Former CEO Bear Stearns

Compensation at Bear Stearns*
(2000-2007):

Cash bonuses:
$87.5 Million
Sale of Bear Stearns stock:
$289.1 Million
Total: $376.6 million

Real Estate:
Apartment in New York’s Plaza Hotel
(Est. value $25M)
Apartment on Park Avenue in NYC
(Est. value $14.95M)
Beach house, Deal, NJ
(Est. Value $8.2M)
Condo, Boca Beach Club, Boca Raton, Fla
(Est. value $2.75M)

Source: Center for Public Integrity
*Study by Harvard Professor Lucian ...

 

 

 

Richard Fuld
Former CEO Lehman Brothers

*Compensation at Lehman
(2000-2007):
$529 Million

Real Estate:
9-bedroom mansion in Greenwich, Conn.
(Est. value: $8M)
40-plus-acre ranch in Sun Valley, Idaho
5-bedroom home in Jupiter Island, Fla. 
(Est. value: $10.6M)
Park Avenue apartment,
NYC: Sold for $25.87M (2009)

Current Employment:
Matrix Advisors
(clients include AT&T, GlyEco, Ecologic Transportation)

Source: Center for Public Integrity, SEC Filings

 

 

 

Stanley O’Neal
Former CEO Merrill Lynch

Compensation at Merrill
(2000-2007):

Cash salary and bonuses:
$68.4 million
Sale of Merrill stock:
$18.7 million
Exit package:
$161.5 million
Total: $248.6 million

Real Estate:

Park Avenue apartment in NYC
(Est. value $10.75 million)
Home in Edgartown, MA on Martha's Vineyard
(Est. value $12.4 million)

Current Employment:
Alcoa Inc. Board of Directors ($221,000*)

Source: Center for Public Integrity, SEC Filings

 

 

Charles "Chuck" Prince
Former CEO Citigroup

Compensation at Citi
(2000-2007):

Cash salary + bonuses: $65.2 Million
Exit Package: $33.6 Million
Total: $98.8 million

Real Estate:
Home in Nantucket, Mass.
(Estimated value $3.6 Million)
House in Lost Tree Village, North Palm Beach, Fla.
(Est. value $2.7 Million)Current Employment:
Xerox Corp. Board of Directors ($195,000*)
Johnson & Johnson Board of Directors ($257,474*)
Speaker-for-Hire, Harry Walker Agency

 

 

 

Kenneth Lewis
Former CEO of Bank of America

Compensation at Bank of America
(2000-2008):

Salary and bonuses:
$52.4 million
Sale of Bank of America stock:
$86.4 million
Exit package:
$83 million
Total: $221.8 million


Real Estate:
Condo, Naples, Fla.
(Est. value $4.1 million)
House in Charlotte, NC
(Sold in 2013 for $3.15 million)
Vacation home Aspen, CO.
(Sold in 2012 for $13.5 million)

Source: Center for Public Integrity