you can’t blame the guy for ruining a company and screwing over thousands of investors…
CIT will pay Thain an annual cash salary of $500,000. He will also receive $5.5 million in stock annually, of which $2.5 million will be subject to a one-year holding period. The remaining $3 million cannot be sold for three years.
Thain could also receive up to $1.5 million in bonuses based on the performance of the company. The board of directors will determine whether to award the performance-based bonuses.
I blame the poor people and CRA not rich greedy people that leverage investment houses and banks 30x’s the cash they had on hand. This guy was just in ther wrong place at the wrong time.