It Pays To Fail: Departing Execs At Bailout Banks Got Golden Parachutes

Bailout Bank Execs Get Payouts

Yesterday, the Treasury Department released new rules on how much banks that received TARP money can pay their executives. Among the rules is one that prohibits golden parachutes – defined as any payment to a departing exec simply because the exec is leaving. But an examination of public filings shows that a number of executives at banks that received TARP funds have received large payments just for resigning. It’s unclear if the new rules will apply retroactively.
Tune in this afternoon to catch a segment we did with public radio’s Marketplace that focuses on a few of these. Below is a rundown of these execs and the payouts they received. LinkHere