Golden parachutes

What a disingenuous jerk. He made over $400 million selling his stock JUST before its price plunged (and tons of employees lost their jobs). Now he wants to act like a big hero by foregoing a tiny fraction of that. Plus he ran the company into the ground - why should he get rewarded for that? He's going before Congress to testify about executive compensation - that should be a hoot!

http://www.npr.org/templates/story/story.php?storyId=18504123

Morning Edition
January 29, 2008
Embattled Countrywide CEO to Trim 'Parachute'
by Chris Arnold
· The chief executive of the ailing mortgage lender Countrywide Financial says he will forfeit more than $37 million in severance pay and perks that were part of a retirement package. The Securities and Exchange Commission is probing Angelo Mozilo's sales of company stock.