Red Tie Rule
Last Friday, the House Committee on Oversight and Investigations took the opportunity to grill financial executives about their enormous bonuses, stock sales and salary in the wake of the sub-prime market collapse.
Compensation issues aside for a moment, I’d like to know why no one told John Finnegan, chair of Merrill Lynch’s compensation committee, about the “Red Tie Rule”.
[photo credit: Doug Mills/The New York Times (full story here)]
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