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The Price of Failure: Ex-Wall Street CEOs Still Living Large

  • <b>Richard Fuld</b><br><b>Former CEO Lehman Brothers</b><br><br>*Compensation at Lehman <br>(2000-2007):<br><b>$529 Million</b> <br><br><b>Real Estate:<b><br>9-bedroom mansion in Greenwich, Conn. <br>(Est. value: $8M)<br>40-plus-acre ranch in Sun Valley, Idaho<br>5-bedroom home in Jupiter Island, Fla. <br>(Est. value: $10.6M) <br>Park Avenue apartment, <br>NYC: Sold for $25.87M (2009)<br><br><b>Current Employment:<b><br>Matrix Advisors <br>(clients include AT&T, GlyEco, Ecologic Transportation)<br> <br><i>Source: Center for Public Integrity, SEC Filings </i><br><i>*Includes salary, bonus and stock options; estimate by Oliver Budde, former Lehman associate general counsel</i></b></b></b></b>
    1/5

    Richard Fuld, Former CEO Lehman Brothers

    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
    *Includes salary, bonus and stock options; estimate by Oliver Budde, former Lehman associate general counsel
    AP Photo
  • <b>Jimmy Cayne</b><br><b>Former CEO Bear Stearns</b><br> <br>Compensation at Bear Stearns* <br>(2000-2007):<br><br>Cash bonuses:<br><b>$87.5 Million</b><br>Sale of Bear Stearns stock:<br><b>$289.1 Million</b><br><b>Total: $376.6</b><br> <br><b>Real Estate:<b><br>Apartment in New York’s Plaza Hotel <br>(Est. value $25M)<br>Apartment on Park Avenue in NYC <br>(Est. value $14.95M)<br>Beach house, Deal, NJ <br>(Est. Value $8.2M)<br>Condo, Boca Beach Club, Boca Raton, Fla <br>(Est. value $2.75M)<br> <br><i>Source: Center for Public Integrity</i><br><i>*Study by Harvard Professor Lucian Bebchuk</i></b></b>
    2/5

    Jimmy Cayne, former CEO Bear Stearns

    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

    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 Bebchuk
    AP Photo
  • <b>Stanley O’Neal </b><br><b>Former CEO Merrill Lynch</b><br><br>Compensation at Merrill <br>(2000-2007):<br><br>Cash salary and bonuses: <br><b>$68.4 million</b><br>Sale of Merrill stock: <br><b>$18.7 million</b><br>Exit package:<br> <b>$161.5 million</b> <br><b>Total: $248.6 million</b> <br><br><b>Real Estate:<b><br><br>Park Avenue apartment in NYC <br>(Est. value $10.75 million)<br>Home in Edgartown, MA on Martha's Vineyard <br>(Est. value $12.4 million)<br><br><b>Current Employment:<b><br>Alcoa Inc. Board of Directors ($221,000*)<br><br><i>Source: Center for Public Integrity, SEC Filings </i><br><i>*Most recent fiscal year</i></b></b></b></b>
    3/5

    Stanley O’Neal, former CEO Merrill Lynch

    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
    *Most recent fiscal year
    AP Photo
  • <b>Charles "Chuck" Prince</b><br><b>Former CEO Citigroup</b> <br><br>Compensation at Citi <br>(2000-2007): <br><br>Cash salary + bonuses: <br><b>$65.2 Million<b><br>Exit Package: <br><b>$33.6 Million<b><br><b>Total: $98.8<b><br><br><b>Real Estate:<b><br>Home in Nantucket, Mass. <br>(Estimated value $3.6 Million)<br>House in Lost Tree Village, North Palm Beach, Fla. <br>(Est. value $2.7 Million)<br><br><b>Current Employment:<b><br>Xerox Corp. Board of Directors ($195,000*)<br>Johnson & Johnson Board of Directors ($257,474*) <br>Speaker-for-Hire, Harry Walker Agency <br><br>Source: Center for Public Integrity, SEC Filings <br>*Most recent fiscal year</b></b></b></b></b></b></b></b></b></b>
    4/5

    Charles "Chuck" Prince, former CEO Citigroup

    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

    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

    Source: Center for Public Integrity, SEC Filings
    *Most recent fiscal year
    AP Photo
  • <b>Kenneth Lewis </b><br><b>Former CEO of Bank of America</b><br><br>Compensation at Bank of America <br>(2000-2008):<br><br>Salary and bonuses: <br><b>$52.4 million</b><br>Sale of Bank of America stock: <br><b>$86.4 million</b><br>Exit package: <br><b>$83 million</b> <br><b>Total: $221.8</b><br><br><br><b>Real Estate:<b><br>Condo, Naples, Fla. <br>(Est. value $4.1 million)<br>House in Charlotte, NC <br>(Sold in 2013 for $3.15 million)<br>Vacation home Aspen, CO. <br>(Sold in 2012 for $13.5 million) <br><br><i>Source: Center for Public Integrity</i></b></b>
    5/5

    Ken Lewis, former CEO of Bank of America

    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


    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
    AP Photo
<b>Richard Fuld</b><br><b>Former CEO Lehman Brothers</b><br><br>*Compensation at Lehman <br>(2000-2007):<br><b>$529 Million</b> <br><br><b>Real Estate:<b><br>9-bedroom mansion in Greenwich, Conn. <br>(Est. value: $8M)<br>40-plus-acre ranch in Sun Valley, Idaho<br>5-bedroom home in Jupiter Island, Fla. <br>(Est. value: $10.6M) <br>Park Avenue apartment, <br>NYC: Sold for $25.87M (2009)<br><br><b>Current Employment:<b><br>Matrix Advisors <br>(clients include AT&T, GlyEco, Ecologic Transportation)<br> <br><i>Source: Center for Public Integrity, SEC Filings </i><br><i>*Includes salary, bonus and stock options; estimate by Oliver Budde, former Lehman associate general counsel</i></b></b></b></b>
<b>Jimmy Cayne</b><br><b>Former CEO Bear Stearns</b><br> <br>Compensation at Bear Stearns* <br>(2000-2007):<br><br>Cash bonuses:<br><b>$87.5 Million</b><br>Sale of Bear Stearns stock:<br><b>$289.1 Million</b><br><b>Total: $376.6</b><br> <br><b>Real Estate:<b><br>Apartment in New York’s Plaza Hotel <br>(Est. value $25M)<br>Apartment on Park Avenue in NYC <br>(Est. value $14.95M)<br>Beach house, Deal, NJ <br>(Est. Value $8.2M)<br>Condo, Boca Beach Club, Boca Raton, Fla <br>(Est. value $2.75M)<br> <br><i>Source: Center for Public Integrity</i><br><i>*Study by Harvard Professor Lucian Bebchuk</i></b></b>
<b>Stanley O’Neal </b><br><b>Former CEO Merrill Lynch</b><br><br>Compensation at Merrill <br>(2000-2007):<br><br>Cash salary and bonuses: <br><b>$68.4 million</b><br>Sale of Merrill stock: <br><b>$18.7 million</b><br>Exit package:<br> <b>$161.5 million</b> <br><b>Total: $248.6 million</b> <br><br><b>Real Estate:<b><br><br>Park Avenue apartment in NYC <br>(Est. value $10.75 million)<br>Home in Edgartown, MA on Martha's Vineyard <br>(Est. value $12.4 million)<br><br><b>Current Employment:<b><br>Alcoa Inc. Board of Directors ($221,000*)<br><br><i>Source: Center for Public Integrity, SEC Filings </i><br><i>*Most recent fiscal year</i></b></b></b></b>
<b>Charles "Chuck" Prince</b><br><b>Former CEO Citigroup</b> <br><br>Compensation at Citi <br>(2000-2007): <br><br>Cash salary + bonuses: <br><b>$65.2 Million<b><br>Exit Package: <br><b>$33.6 Million<b><br><b>Total: $98.8<b><br><br><b>Real Estate:<b><br>Home in Nantucket, Mass. <br>(Estimated value $3.6 Million)<br>House in Lost Tree Village, North Palm Beach, Fla. <br>(Est. value $2.7 Million)<br><br><b>Current Employment:<b><br>Xerox Corp. Board of Directors ($195,000*)<br>Johnson & Johnson Board of Directors ($257,474*) <br>Speaker-for-Hire, Harry Walker Agency <br><br>Source: Center for Public Integrity, SEC Filings <br>*Most recent fiscal year</b></b></b></b></b></b></b></b></b></b>
<b>Kenneth Lewis </b><br><b>Former CEO of Bank of America</b><br><br>Compensation at Bank of America <br>(2000-2008):<br><br>Salary and bonuses: <br><b>$52.4 million</b><br>Sale of Bank of America stock: <br><b>$86.4 million</b><br>Exit package: <br><b>$83 million</b> <br><b>Total: $221.8</b><br><br><br><b>Real Estate:<b><br>Condo, Naples, Fla. <br>(Est. value $4.1 million)<br>House in Charlotte, NC <br>(Sold in 2013 for $3.15 million)<br>Vacation home Aspen, CO. <br>(Sold in 2012 for $13.5 million) <br><br><i>Source: Center for Public Integrity</i></b></b>
Updated


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.
 
It’s an astounding amount of money, especially given their collective incompetence and mismanagement, for which we’re all still paying.

By Aaron Task