Executive Compensation
2008-03-07T09:59:31-05:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvNTRiXC8yMDQzMjgtbS5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==The committee held a second oversight hearing on executive compensation practices. Experts and government officials in the first panel testified about the current mortgage crisis including unprecedented numbers of foreclosures, the risks of adjustable-rate mortgages, and loan modification to prevent foreclosures.
In the second panel the committee examined the compensation and retirement packages granted to the chief executive officers of three corporations involved in the current mortgage crisis. Loan company chief executive officers and compensation committee chairmen testified. Stan O’Neal and Charles Prince offered their resignations in the fall of 2007. They received compensation packages that they would have forfeited if fired for cause. Angelo Mozilo did not resign but would receive a terminal compensation package if the purchase of his company proposed in January 2008 by Bank of America is completed.
In the second panel the committee examined the compensation and retirement packages granted to the chief executive officers of three corporations involved in the current mortgage crisis. Loan company chief executive officers and compensation committee chairmen testified. Stan O’Neal and Charles Prince offered their resignations in the fall of 2007. They received compensation packages that they would have forfeited if fired for cause. Angelo Mozilo did not resign but would receive a terminal compensation package if the purchase of his company proposed in January 2008 by Bank of America is completed.
The committee held a second oversight hearing on executive compensation practices. Experts and government officials in the first panel testi… read more
The committee held a second oversight hearing on executive compensation practices. Experts and government officials in the first panel testified about the current mortgage crisis including unprecedented numbers of foreclosures, the risks of adjustable-rate mortgages, and loan modification to prevent foreclosures.
In the second panel the committee examined the compensation and retirement packages granted to the chief executive officers of three corporations involved in the current mortgage crisis. Loan company chief executive officers and compensation committee chairmen testified. Stan O’Neal and Charles Prince offered their resignations in the fall of 2007. They received compensation packages that they would have forfeited if fired for cause. Angelo Mozilo did not resign but would receive a terminal compensation package if the purchase of his company proposed in January 2008 by Bank of America is completed. close
People in this video
-
John D. Finnegan Chairman Merrill Lynch and Company->Management Development and Compensation Committee -
Hosting Organization
Purchase a Download
Executive Compensation
-
MP4 video - Standard
- Price:
- $9.99
-
MP3 audio - Standard
- Price:
- $0.99
Related Video
-
Hedge Fund Regulation, Fund Managers Panel
Hedge Fund Managers and financial experts testified about federal regulation of financial markets, operation of hedge fu…
-
Fannie Mae and Freddie Mac, Former Executives
The House Oversight and Government Reform Committee held a hearing on the financial collapse of Fannie Mae and Freddie M…
-
AIG Executive Bonus Payments Audit
Neil Barofsky testified about retention bonuses awarded to employees and leaders of financial institutions after the com…
-
Secretary Geithner on Government Assistance for AIG
Treasury Secretary Timothy Geithner testified at a House Oversight and Government Reform Committee titled “Factors Affec…
User Created Clips from This Video
-
- 2 minutes
- 193 views
-
- 2 hours
- 55 views
-
- 9 minutes
- 15 views
-
- 45 seconds
- 13 views