Originally Posted By Mr X <a href="http://abcnews.go.com/print?id=7210007" target="_blank">http://abcnews.go.com/print?id=7210007</a> Okay, this guy assisted greatly in destroying the company. They fired him. He's under investigation for his wrongdoing. Yet they still payed him a million bucks a month? Excuse me? Where can I sign up to live in that world? WTF!? (am I the only one who thinks this cash, such a huge amount, had nothing to do with any "golden parachute" but was rather hush money?)
Originally Posted By Mr X And also dozens of offshore "shell companies"? And the company ignored warnings from the accountant? Um...can you say "this guy's a criminal"? WHY was he paid a fortune after he was fired? (anyone who says "contract" can bite me...it does NOT work like this! or, it shouldn't. we need new laws in place NOW to deal with these MASTER criminals!)
Originally Posted By SingleParkPassholder "(anyone who says "contract" can bite me...it does NOT work like this! or, it shouldn't. we need new laws in place NOW to deal with these MASTER criminals!)" Well, you can say "bite me" all you want, but you'll notice that even the hardest of the hard core people against these bonuses (and that's most everybody) haven't really come up with a iable legal strategy that would block these bonuses. Contracts are often called "iron clad" for good reason. Short of a bankruptcy, and many times even then, they just can't be voided, even in these types of situations.
Originally Posted By Mr X Even in the case of fraud? And in the case of dismissal? If so, what's to stop anyone from simply signing a contract and then sitting back and doing absolutely nothing for the money? If this is the case, these companies should sue all their lawyers for forging such idiotic contracts. But again, back to this situation...it really seems like more of a hush money thing. A million bucks a month (til the gubmint stopped them), after being terminated? I'd like to see the contract that calls for THAT.
Originally Posted By Mr X ***haven't really come up with a iable legal strategy that would block these bonuses*** I would start with an aggressive investigation into fraud and false statements coupled with profits gained from failed companies either before or after the crash, an investigation spearheaded by the A.G. in collusion with the Treasury Department and other agencies which moniter the equities business... And once liberal numbers of indictments are handed down, a simple executive order akin to the "no cash for the Nazi's" law would be just fine. That would work, wouldn't it?
