Bailed Out, Booted and Busted
We're told that corporate executives get paid outrageous sums of money because they add value to the companies they work for. But a new video and report from the Institute for Policy Studies ( IPS ) show that this is far from accurate. Of the 500 highest-paid CEOs of the past 20 years, the report shows, 112 of the companies they represent filed for bankruptcy or received bailout money from the federal government, 39 of the CEOs were fired and 39 of those companies had to pay massive fines or settlements for serious fraud—a total of nearly 40% of all the the highest-paid executives.
