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Wells Fargo pays their CEO $17.56 million for 2010 ??

By Pat Murphy

Services for Real Estate Pros with Lien Search Pro

March 22, 2011 12:07 PM

What do you call a mega bank who, just coming off robo-signing scandal issues, pays its CEO $17.56 million in compensation in 2010? The official answer is Wells Fargo. The more realistic answer is CLUELESS.

Is there a CEO on the planet worth that kind of money? Can I get h-e-l-l no! So why would a bank with a recent foreclosure scandal, not to mention tons of real estate inventory it cannot handle or unload, think this type of compensation is acceptable? Well apparently, if you're a mega bank or Wall Street, you don't have to think things through or even justify outrageous salaries, benefits and bonuses.

Read the whole story here...

http://shortsaledailynews.com/wells-fargo-still-clueless/

Pat Murphy, Short Sale Negotiator

www.liensearchpro.com

Phone; 941-822-6111 ~ Fax; 888-331-2617

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Jason E. Gordon

CMG Mortgage, San Diego, CA - Coronado, CA

Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

Although I believe in capitalism, this type of payout seems a bit out of control (especially given the amount of Distressed Homeowners that WFB failed to assist over the past year). I hope he believes in giving some money to charity!

Mar 22, 2011 12:18 PM

Mark Michalak

Pearland, TX

Well put

Mar 22, 2011 12:20 PM

Matt Grohe

RE/MAX Concepts - Des Moines, IA

Serving the metro since 2003

Pat: There are many facets to the position that we in the general public are not aware of or can appreciate I'm sure. For running a huge concern like Wells it sounds like the company is getting a bargain.

Mar 22, 2011 04:40 PM

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Pat Murphy

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