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Jan 26, 2009 -- Executives who refuse bonuses and golden parachutes

Executive compensation is something of a sore point for Clark. In some of its more outrageous examples, you have former Home Depot CEO Bob Nardelli who received $130 million as part of his exit package. Meanwhile, Countrywide CEO Angelo Mozilo got $120 million when he exited -- after playing a major role in our subprime mortgage crisis.

Sometimes it feels like there's nothing we can do about these outrageous golden parachutes and gilded bonuses.

Thankfully, some CEOs have taken the moral high road when it comes to bonuses. Bank of America CEO Ken Lewis actually requested that he receive no bonus because the company isn't doing well. Clark is normally no friend of Bank of America, but he salutes Lewis for his decision. Similarly, AFLAC CEO Dan Amos turned down a golden parachute offer, saying that if he fails the company he doesn't deserve any special treatment.

These two examples, however, are isolated instances. More often, the honchos take the money gladly -- even when they fail.

The real problem here is corruption in Washington D.C., according to Clark. The consumer champ hopes new laws are passed that turn control of corporate America over to the true owners of a company -- we the stockholders.

Unfortunately, Clark won't be able to answer any questions submitted via commenting. If you have a question, please try posting it to our message boards.

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