From Bloomberg News (boldface mine):
The main trade association for the securitization industry is in turmoil after most of the board resigned in a dispute with the group’s executive director over governance and bonuses, according to six people with knowledge of the matter…
The resignations came after the board attempted to remove the forum’s executive director, Tom Deutsch, but was unable to fire him because of the way the association’s governing documents are written, said the people. Part of the dispute concerns bonuses that Deutsch was paid, the people added….
Directors weren’t permitted to review some financial information, including staff pay, and had no legal control over the group, wrote Wright, an ASF founder who was chief financial officer of credit-card issuer MBNA Corp.
The “corporate-governance concerns lead me to the conclusion that the executive director is not being properly supervised,” he wrote.
I’ll wait until you stop laughing.
Do you think any of these bozos have suddenly realized what the entire country thinks about them?