Red Tie Rule
Posted on March 09, 2008
Filed Under: Real Estate
Tagged: compensation, john finnegan, merrill lynch, mortgage, real estate, subprime, ties
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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