news related : SHOULD CEOS RECEIVE PENSIONS? [+] serious ballot by Cathexis created Tue Dec 28, 04 Franklin Raines, Fannie Mae's former chief executive -- who retired in mid-December of 2004, after regulators exposed accounting errors expected to force a massive earnings restatement -- stands to get an annual pension of $1.37 million, according to regulatory filings. Raines is also in line to leave with $5.8 million in stock options and $8.7 million in deferred compensation to be paid through 2020 -- on top of the pension -- according to Fannie Mae's filing (December 28, 2004) with the Securities and Exchange Commission. Regular working people are on their own for retirement preparation, contributing to 401ks or IRAs (if they are able to address retirement, at all). Pensions are bad for business, we are told ... a drag on future profitability. People need to take responsibility, etc., etc. Pensions are bad for business, everyone agrees ... except when it comes to CEOs ... despite their performance and, evidently, even if they were incompetent and/or criminal. Do you believe CEOs should be eligible to receive pensions at companie sthat do not provide that option for other workers? Yes No Other (comment) Ballot #63233 : SEE RESULTS Comment: show your vote with comment?

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