Economic crisis, but not for Washington bosses

This video from the USA is called CEO Pay and the Great Recession.

By Nikolai Barrickman in the USA:

Massive growth of executive pay in nation’s capital

12 July 2012

A recent report by the Washington Post shows the massive growth of executive pay in the Washington, DC area as part of their attempts to skirt the regulatory measures passed by the Obama administration in the aftermath of the 2008 financial crisis.

In a related story, it was reported that corporate CEOs have managed to increase their pay by over 20 percent since 2010 by means of transferring their pay from direct salary compensation to indirect means such as stock options, which are tied to company performance, revenue, and profit gain. “Giving long-term awards is more reflective of the scope of decision-making,” Charlie Tharp, a representative of the Center for Executive Compensation, told the Post.

As a result, despite the “slowing” of direct executive compensation, overall median executive pay was able to climb 41 percent and 22 percent in the last two years, reaching a median pay level of $3.1 million in 2011.

EagleBank nearly quadrupled the pay package of chief executive Ronald D. Paul last year after repaying the Troubled Asset Relief Program [paid by taxpayers], which placed constraints on executive compensation: here.

4 thoughts on “Economic crisis, but not for Washington bosses

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