Total Lunacy: Mary Schapiro Made $3.3 Million In 2008, Perks Also Include Car Service, Club Fees And Full Expense Comp

Tyler Durden's picture

NEW YORK (Dow Jones)--Numerous Financial Industry Regulatory Authority executives enjoyed multimillion-dollar compensation packages in 2008, according to tax forms filed by the regulator. They contrasted with much lower wages some now get after leaving the private non-profit organization for government jobs.

Three former Finra executives left the agency in 2008 for lower-paying government work, including the regulator's former chief executive, Mary Schapiro, who is now chairman of the Securities and Exchange Commission. Schapiro earned $3.3 million while at Finra in 2008. She now earns $162,900 at the SEC.

and from ComplianceEX

Ms. Schapiro's compensation last year included $20,000
annually for club memberships in New York and Washington, $20,000 for personal
financial and tax counseling, and a car and driver for use in both cities,
according to the tax form. Finra also generally pays a “gross-up” adjustment to
cover its executives' costs, the filing said.



So Mary Schapiro's reward for not catching Bernie Madoff, Raj Rajanagonnaworkhereanymore, and doing NOTHING about Joe Cassano, was over $3 million dollars, a chauffeur and a private trainer?


(1 kilogram of Vasotec, Oxycodone and Ativan later)


All is good in the world.

Oh, and the reward was completely deserved:

[FINRA] reported a $696.3 million loss on operations for 2008, driven primarily by $568 million in investment related losses it incurred that year, according to its 2008 annual report.

Perhaps Madoff and Cassano were FINRA's advisors? Hopefully we will learn at the Schaprio bonus clawback hearings.

We are currently looking for the appropriate FINRA Form 990. We will post it promptly once obtained.

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skullnbones's picture

Rajanagonnaworkhereanymore - I'm choking to death

Shameful's picture

Yeah her salary is "only" 162,900 but do they include bribes and kickbacks in that total?  We should force gov workers to pay for the right to work in their positions.  After all they can pay for the privilege out of the corruption and bribery.

Sqworl's picture

Wait till you see what deferred Comp was $$$$$...She's in the same league as Dick Grasso, the Best Regulation money can buy!

JohnKing's picture

I wish the little people would stop complaining.

SRV - ES339's picture

Really... all this whining... you'd think they were getting screwed or something!

Anonymous's picture

"Hopefully we will learn at the Schaprio bonus clawback hearings."

yeah, or at the end times tribunals that Jesus will hold when HE returns!!

Hephasteus's picture

Ask NOT what your country can do for you!!!

Really don't ask. We'll ignore you.

Dburn's picture

Just for those of us newbies here who didn't know what FINRA does


FINRA is the largest independent securities regulator in the U.S. Our chief role is to protect investors by maintaining the fairness of the U.S. capital markets.


Sounds about right. 3 million? Must have been getting ready to get fired

so she took the job at the SEC. Man is that encouraging or what?


cougar_w's picture

People like that are like turds that never flush, but once they get in the bowl just go 'round and 'round and never go away. Every time you look down, there they are again staring up at you and smiling.

They love being turds. They love the stink and the slime and the going 'round in the bowl. Washington is full of turds that never entirely go away. Because of them we'll never get this mess cleared up.


Shameful's picture

That was perfect...That is the best description I have ever heard for the parasites that reside in Mordor on the Potomac.

Anonymous's picture

I agree. I happen to have that very problem in the bowl right now. Problem is, if I try to plunge it the turds splash all over my feet and legs and get on the floor, too. (attack?) It's bad where they are now and fixing it is messy, but do it I must.

dogbreath's picture

I've come to think that we in my secret country  are the hobbits of this earth, but probably not.  public health care included mass emasculations and public education took care of the reprogrammng.   That aside I have to dig out my Tolkien to see if there are 'secret of oz"  messages.  The reawakening of Mordor and the all seeing eye is too spooky given present circumstance.



lesterbegood's picture

Self composting toilets. Turn 'em into fertilizer.

Anonymous's picture

Diesel fuel and a match. Burn the turds.

Cursive's picture


Lulz, bro.  I'm going to use that with friends and family, going forward.

Sam Malone's picture

Interesting use of "independent" here.

Anonymous's picture

She also gets access to our rock star president. That in itself is worth millions

Bear's picture

Oh ... did she get an invitation to the State Dinner or did she have to crash?

Assetman's picture

Somehow the phrase "do as I say, and not as I did in 2008" will be a central message of Mary's Hallmark Christmas Card collection this year.

Knowing our luck, she is getting "fruit" baskets stuffed with Zimbabwe Ben billion dollar bills in return. 

curbyourrisk's picture

Salary only $162K....but it think about the future salary as advisor for GS or JPM.....

Careless Whisper's picture

Why would FINRA pay $3.3 mill ?

jbc77's picture

Nothing like getting paid for a job well done.

digalert's picture

I would imagine Ms. Schapiro, since early November, has been tied up with the holidays and last minute Christmas shopping. Perhaps after a final new years party and sobering, we'll see a survey asking what should the SEC do.

Cincinnatus's picture

Par for the Course.  A private course, of course.

Anonymous's picture

Actually, in some third world countries(Why there is still such distinction since we are all converging into one and the same class),people do pay to get a goverment job,because the reward are much higer than the private sector!!

Anonymous's picture

F(lagrant) I(neptitude)N(eglect) & R(egulatory) A(bsence) is great work experience for S(ave) E(xecutive) C(ompensation)

waterdog's picture

They left out the Wellbutrin and the life time supply of Adderall 20 mg tabs from her payroll figures. Also, there is the cost of therapy so she can keep her eyes open when she looks in the mirror.

It is the culture in which she thrives that makes us hate her. She has done well, she is not a dumb bitch.




Anonymous's picture


Why do we not have any protection against these criminals masquerading as government officials??

They are looting this nation blind!

Anonymous's picture

Clawbacks at a MINIMUM.

Where are the charges being brought against her for abusing her office?

Sometimes I think China has the right answer. A public hanging would do the trick.

Gilgamesh's picture

Don't be silly - FINRA is doing yeoman's work.

They just made a monumental finding; the individual retail investor (aka GS's dumping ground for unloading offerings) should have no way to take extra risk - without finding an underregulated Ponzi Fund on their own, of course.

Seems clearing firms have had enough of the random changes and just made it 100% margin requirement (subject to unannouced increases, of course).

bugs_'s picture

Mary Mary quite contrary.

Anonymous's picture

You mean shapiro didnt investigate Madoff? or Cohen? or soros? or hank greenberg? or BenMosche? or Rob Rubin? Shocking. Who coulda guessed it? It takes college to figure this thing out?

Anonymous's picture

Why is the Obama administration holding NONE of these people in positions of such power and influence to account?


Where is the tranparency and accountability we voted for?

Why is there one set of rules for Wall Street and another for everyone else?

We are so tired of being your cattle--

delacroix's picture

obammy is in the car with them, a willing participant to the drive by on main street.

Anonymous's picture

At this point in time I can't believe anyone would admit they voted for Obama.

Sqworl's picture

Foch her, with all those graft generated millions, she still a lil troll doll who moonlights as the bride of Chuckie...Just look at her?  That sizzler burnt hair, brown teeth and she smells like a backdoor skank..I hate her and hope she rots in hell..

Sqworl's picture

What's the difference between FINRA and Acorn????

Anonymous's picture

Different set of nuts?

Anonymous's picture

You people should leave Shapiro alone. How dare you pick on her. She is entitled to endless riches cheating and stealing for the new york street hustlers.

Anonymous's picture

I swear to God this website is the only thing that keeps me sane some days.

Anonymous's picture

I would gladly go to europe or afghanistan to fight for shapiro. It is my honor and responsibility to fight and die for her enrichment.

Anonymous's picture

Too bad they can't swap the Wall Street and Washington crowd for the Taliban. Then we could fight the real enemies of our country, and we sure as hell wouldn't have any trouble finding 30,000 people wanting to go to Afghanistan. Shit, I'd kill anyone who tried to get in line ahead of me.

pc_babe's picture

You can never pick a trud up from the clean end

Anonymous's picture

Overpaid cunt.

Anonymous's picture

i just picked this item up, i'm from England, have you guys not paid her enough? i mean she must have expenses!!