This post has been edited to include new information about a stricter standard of employee classification recently adopted by the California Supreme Court. ..
Date : Monday, February 08, 2016
It’s difficult to forget the financial crisis of 2008, as it affected many elements of the American economy. One of the factors that contributed to the Great Recession was unbelievable salaries and bonuses paid to Wall Street Executives, while their responsibilities – like mortgage lending – were taking a serious hit. For example, Angelo Mozilo, former CEO of Countrywide Financial, made $471 million between 2002 and 2007, while the bank suffered high default rates on the mortgages it underwrote, according to the Wall Street Journal. ..