Ex-CEO of Citigroup Testifying NOW

[Alison Swain]

Charles Prince on CNBC testifying before Congress.

 

[Ms. Janet]

Thanks Alison!

 

[Alison Swain]

Now it's Orange Angie.

 

[Lax1]

http://www.c-span.org/Radio/web/schedule.asp?Cat=TV&Code=CSR

If you want to listen, especially to Countrywide's CEO Mozilo

 

[Alison Swain]

Interesting. Seems it's SOP at CW to keep fishing when the number isn't hit. Eleanor Holmes Norton just asked Angie why, when an independent compensation consultant recommended that his pay should be in line with similarly positioned CEO's, did they go out and hire a new consultant who justified a much higher compensation package.

I suggest that the people asking these obvious and intelligent questions are the ones on the Hill we should be contacting.

 

[JT1974]

Those CEO's sure know how to play dumb. They claim to be worth hundreds of millions of dollars because they are so brilliant. However, they all claim that they had no idea that a meltdown was imminent.

 

[murray stroupe]

Exchanges

Interesting. Seems it's SOP at CW to keep fishing when the number isn't hit. Eleanor Holmes Norton just asked Angie why, when an independent compensation consultant recommended that his pay should be in line with similarly positioned CEO's, did they go out and hire a new consultant who justified a much higher compensation package.

I suggest that the people asking these obvious and intelligent questions are the ones on the Hill we should be contacting.

==============
Caught 2-3 hours of that replayed on C-Span, Sunday;
one of the more interesting exchanges.

Citigroup Chief of Comp Comittee had a pretty weak, or non sensical answer explaining why Citi ceo got a cash bonus [10 million]in a subprime- sub performance of stock performance year.

However even at their worst ,the compensation generally seemed more fair than;
14 million earned by an actual athlete for sitting on bench for 1 year.
=================================================

A Congressman named Elijah, asked mr Parsons[Citi Chief of comp comittee,]
what does a Time Warner exec know about finance compensation???LOL
Mr Parsons, while attempting to explain/promote the unique idea Citigroup is unique[yea, right];
also had a startling answer-said he worked for many years @ Dime Bancorp.

Also like what Ben Stein said lately on NYT editorial.
Exxon deserves a hug /pat on back.Exxon execs own only a small % of that public company.About 97% ;
of it is owned by individuals,
by institutions/pension funds.


Fun watching