CEO Exit Package Idiocy

Another day, another Wall Street CEO gets the boot for poor performance. For most of us, getting fired means very limited severance. For these guys, $100 million dollar exit packages are the norm.

In their defense, a large percentage of the announced packages are amounts already earned. Typically, the amounts represent pensions, deferred comp, and options granted in prior periods. Since the amounts have already been "earned," they aren't really golden parachutes.

Nevertheless, the amounts "earned" are idiotic. The Board's should never allow CEO's to loot the companies for excessive pay.