The top executives at AIG, Freddie Mac, Fannie Mae, Lehman and Goldman Sachs pulled down more than $2 billion in pay over the past five years according to a new analysis by a professor at San Diego State University’s Charles W. Lamden School of Accountancy, Dr. David DeBoskey. Henry Paulson, who in his current role as Treasury Secretary is pushing for a bank bailout, accounts for $82 million of the total. That was his pay for three years (2003 to 2005) as CEO of Goldman Sachs. DeBoskey included the pay of 57 different individuals, pulling the data that companies report on their top 5 officials to the Securities & Exchange Commission, to get to the $2.1 billion total. Now-bankrupt Lehman Brothers, the smallest of the five companies, was tops in pay. It doled out $743 million in compensation for all its top officers from 2003 through 2007. Next was Goldman Sachs with $726.5 million, then AIG at $336 million, Fannie Mae at $207.2 million and Freddie Mac at $90 million.
The top executives at AIG, Freddie Mac, Fannie Mae, Lehman and Goldman Sachs pulled down more than $2 billion in pay over the past five years according to a new analysis by a professor at San Diego State University’s Charles W. Lamden School of Accountancy, Dr. David DeBoskey.
Henry Paulson, who in his current role as Treasury Secretary is pushing for a bank bailout, accounts for $82 million of the total. That was his pay for three years (2003 to 2005) as CEO of Goldman Sachs. DeBoskey included the pay of 57 different individuals, pulling the data that companies report on their top 5 officials to the Securities & Exchange Commission, to get to the $2.1 billion total. Now-bankrupt Lehman Brothers, the smallest of the five companies, was tops in pay. It doled out $743 million in compensation for all its top officers from 2003 through 2007. Next was Goldman Sachs with $726.5 million, then AIG at $336 million, Fannie Mae at $207.2 million and Freddie Mac at $90 million.
—$2 billion pay day for failure - BusinessWeek [via tiffehr]
