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$1.2 Trillion

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CEOs at the Heart of the Crisis

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Richard Fuld -- Lehman Brothers Holdings, Inc.
Fuld, CEO of Lehman Brothers, has the distinction of being the executive behind the largest bankruptcy filing -- estimated at $613 billion -- in U.S. history.

Angelo Mozilo -- Countrywide Financial Corp.
Mozilo's tenure at Countrywide was marked by his "Friends of Angelo" VIP program that gave below-market rates to the CEO's best friends and several members of Congress.

Kerry Killinger -- Washington Mutual Inc.
Killinger led Washington Mutual through sensational growth and into a slew of risky product offerings. The bank finally collapsed and sold its assets to J.P. Morgan Chase.

James Cayne -- Bear Stearns
After 16 years as CEO at Bear Stearns, Cayne handed the reins to Alan D. Schwartz -- then watched the firm collapse.

Daniel Mudd -- Fannie Mae
Mudd was ousted from his post as Fannie Mae's CEO in September when the government placed the company into a conservatorship. He will not receive a severance package.

Richard Syron -- Freddie Mac
Syron was relieved of his duties as Freddie Mac CEO as part of the government's takeover of the troubled company in September.

Martin J. Sullivan -- American International Group, Inc. (AIG)
Sullivan held the CEO post at AIG from 2005 through early 2008. The insurance company was propped up by an $85 billion loan from the U.S. government earlier this month.

Stanley O'Neal -- Merrill Lynch & Co.
O'Neal retired from his post as Merrill Lynch CEO in October 2007 after huge subprime-related losses and writedowns. His successor, John Thain, orchestrated the firm's sale to Bank of America on the same day Lehman Brothers went under.

Charles Prince -- Citigroup, Inc.
Prince stepped down from the CEO position at Citigroup in late 2007 after the company suffered billions in subprime writedowns.

Ken Thompson -- Wachovia Corp.
Wachovia's board forced then-CEO Ken Thompson from his post in June as the bank struggled through subprime-related losses.

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That’s Why He Is The Boss
One CEO always scheduled staff meetings for 4:30 on Friday afternoons. One of the employees finally got up the nerve to ask why, the CEO explained, "I’ll tell you its very simple – it’s the only time of the week when none of you seems to want to argue with me."

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