Today's telecast of The McLaughlin Group showed 10 of the biggest losers from the current mess on Wall Street. 9 of the 10 could be described as friends of Secretary Henry Paulson and the other one is Paulson himself. Here's the list biggest CEO losers based on their personal portfolio of company stock...
Maurice Greenberg - Former CEO AIG
Jan '07 - $1.25 Billion | Sep '08 - $50 Million (96.0% Loss)
Henry Paulson, Former CEO Goldman Sachs
1/07 - $809 Million | 9/08 - $523 Million (35.4% Loss)
Daniel Mudd, Former CEO Fannie Mae
1/07 - $26 Million | 9/08 - $476k (98.2% Loss)
Richard Syron, Former CEO Freddie Mac
1/07 - $11 Million | 9/08 - $130k (98.8% Loss)
Martin Sullivan, CEO AIG
1/07 - $3.2 Million | 9/08 - $173k (94.6% Loss)
John Thain, CEO Merrill Lynch
1/07 - $28 Million | 9/08 - $16 Million (42.9% Loss)
Richard Fuld Jr. - Former CEO Lehman Brothers
1/07 - $827 Million | 9/08 - $2.3 Million (99.7% Loss)
John Mack - CEO Morgan Stanley
1/07 - $225 Million | 9/08 - $80 Million (64.4% Loss)
Charles Prince III - Former CEO CITIGROUP
1/07 - $89 Million | 9/08 - $33 Million (62.9% Loss)
James Cayne - Former CEO Bear Stearns
1/07 - $1.1 Billion | 9/08 - $61 Million (94.5% Loss)
It is undeniable that $700 Billion will help Paulson and his friends' portfolios to rebound. Do you think that the bailout is going help the average American family as much as it will Paulson's friends?
Best regards,
Jay
Jay Allen
MovieVoice
jay@movievoice.net
Yes, I agree. This is why McCain and the republicans should stand up to this nonsense. Democrats rush to sign this bill Jay, that should give you some cause for concern.
Jay,
The National Taxpayers Union has a similar take. See what they have to say at:
http://www.ntu.org/main/letters_detail.php?letter_id=633