Biggest Golden Parachutes
As outcry grows over executives who reap millions in severance bonuses in the face of their companies' downfalls and bail-outs, TIME takes a look at other golden parachutes — and the people who opened them.
—Claire Suddath
The former CEO and Chairman of the Board of Merrill Lynch & Co. Inc. left the company in 2007 with a whopping $161.5 million. Unfortunately, his departure cooncided with a quarterly loss of $2.3 billion (the largest in the company's 93-year history) and an $8.4 million fine from the government related to the subprime mortgage crisis.
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