Quote:
Originally Posted by RIJIMMY
Dont remember all the RAGE over outrageous salaries on Wall St? Dont remember Congress passing legislation and SALARY CAPS on firms taking TARP????
We'll all that doesnt apply to Fannie because they didnt really take TARP.....it was another bailout.
I never like to insult people, but you really have to be a moron if this doesnt piss you off.
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While I understand the argument, do you really think this was the "excessive compensation" that people were outraged about?
His base is around 700K, with various kickers that could amount to another 1-3M more assuming performance and board approval.
The 1.95M sign on bonus is to offset the options he's forfeiting by leaving his old job. Granted, this may allow him to see this money sooner than he would have, but it's a not a gain otherwise.
That's not a crazy package for a big exec, and has a heavy hand towards incentive pay which FB wants.
-spence
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