Thursday, November 20, 2008

Today's "Bad Guy"

Yesterday, we had a trifecta - all three Detroit guys who flew to Washington on their private jets to beg for tax dollars.  Today, we're jumping over to the banking industry for another stellar example of a "bad guy"...

Pro Publica: Golden Parachute Soars, We Pay

From Paul Kiel: "The South Financial Group, South Carolina's largest bank, announced earlier this week that it had been approved to receive $347 million from the U.S. government. But the bank's founder and longtime CEO Mack Whittle won't be sticking [...]
UPDATE: He might not get away with it...

Suit Seeks To Block Whittle's Executive Pay

Mack Whittle is being sued by a shareholder of South Financial, who is trying to block his $18 million compensation package. The shareholder, Vernon Mercier, said the suit was prompted by last week's announcement that South Financial would receive bailout [...]


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