LEHMAN BROTHERS - RICHARD FULD: Under Mr. Fuld’s leadership at Lehman, the company underwrote more mortgage-backed securities in 2006-07 than any other firm. The housing market crash showed Lehman's exposure to these high-risk financial instruments and the firm began to lose money. Fuld refused offers to sell, and the Treasury Department did not engineer a rescue, as it did for another investment bank. Lehman's bankruptcy in late 2008 also ended Fuld's job. Code Pink protesters hold up signs as Fuld testifies at a House Oversight and Government Reform Committee hearing in October 2008. Jonathan Ernst/Reuters/FILE
MERRILL LYNCH - JOHN THAIN: Mr. Thain resigned in 2009 as CEO of Merrill Lynch after accounting discrepancies surfaced that placed losses well over what had initially been reported, and also after reports of excessive executive compensation just before the company was sold to Bank of America. At one point, he was paid total compensation of more than $83 million, including cash and stock. He was later subpoenaed by New York Attorney General Andrew Cuomo to testify about the bonuses. Thain, then-New York Stock Exchange CEO, is seen here on a Harley Davidson motorcycle in front of the New York Stock Exchange (NYSE) in New York in August 2005 when members of the NYSE were encouraged to ride their Harleys to work to celebrate the ringing of the closing bell by Harley Davidson's CEO. Henny Ray Abrams/AP/FILE
GENERAL MOTORS - RICK WAGONER: GM CEO Wagoner was asked to step down in 2009 by Obama administration officials, who felt that the company was not making significant strides toward restructuring after receiving billions of dollars in bailout loans from the government. Here, Wagoner talks about the company's restructuring plans during a news conference in Detroit, Mich., in February 2009. Carlos Osorio/AP/FILE
TYCO INTERNATIONAL - DENNIS KOZLOWSKI: In 2002, Mr. Kozlowski left the company amid a furor about his excessive compensation package. He was convicted of misappropriation of corporate funds in 2005 after an investigation showed numerous extravagances, such as a birthday party for his wife, disguised as a shareholders’ meeting, and a reported $6,000 shower curtain. Kozlowski is seen here at criminal court in New York in September 2002. Louis Lanzano/AP
HEWLETT-PACKARD - CARLO FIORINA: Ms. Fiorina was forced out by Hewlett-Packard’s board of directors in 2005, three years after spearheading a merger with major competitor Compaq. There was strong opposition about the merger from board member Walter Hewlett, who said in a conference call about Fiorina that “We do not want someone learning on the job.” She is now running for a US Senate seat in California, aiming to unseat Democratic incumbent Barbara Boxer. Fiorina is seen here campaigning in Los Altos, Calif., in July, holding a roundtable discussion with other business women to discuss the impact of job losses in California. Paul Sakuma/AP
EBAY - MEG WHITMAN: Ms. Whitman took early retirement in 2008 as CEO. She was quoted as saying that every CEO should leave after 10 years, though her change followed a widely criticized purchase of Skype, which eBay bought for $2.6 billion. Whitman, now a California Republican candidate for governor, talks to supporters during an appearance at a garlic farm in Gilroy, Calif., in July. Robert Galbraith/Reuters
FANNIE MAE - DANIEL MUDD: When the Federal Housing Finance Agency put Fannie Mae into conservatorship in 2008, Mr. Mudd was dismissed as CEO. Under his watch, the company was accused of accounting errors and overstating its capital. The Fannie Mae building is seen here in Washington. Manuel Balce Ceneta/AP/FILE
FREDDIE MAC - RICHARD SYRON: Mr. Syron was fired as CEO of the mortgage giant in 2008, after refusing to act on several warnings from other executives that the company’s questionable loans were going to jeopardize it in the long term. Freddie Mac's corporate offices are seen here in McLean, Va., in July 2008. Pablo Martinez Monsivais/AP/FILE
ENRON - JEFF SKILLING and KEN LAY: These executives of the much-maligned Enron stepped down in 2001, hoping to head off criticism or responsibility for their business practices, which included a massive accounting fraud that bankrupted the company and wiped out employee pensions, insider trading, and securities fraud. Mr. Skilling has since had part of his conviction vacated and it has been sent down to a lower court for appeal. Mr. Lay died in 2006 before sentencing, and his convictions were vacated. Skilling stands with his lawyer Dan Petrocelli as they leave the courthouse after the verdict in his fraud and conspiracy trial in Houston, Texas, in May 2006. Pat Sullivan/AP/FILE
BOEING - HARRY STONECIPHER: Mr. Stonecipher was CEO and chief operating officer of Boeing from 1997 to 2002 and again from 2003 to 2005. He was dismissed in 2005 after an investigation showed that the married executive made inappropriate decisions while having a relationship with a female subordinate. Stonecipher is seen here in February 2005 during a news conference. Paul Hanna/Reuters/FILE
BP - TONY HAYWARD: Mr. Hayward appeared destined as of July 26 to step down as CEO of BP within months. As the public face of the company’s emergency response team during the oil spill in the Gulf of Mexico, he became a lightning rod for impolitic public statements he made while overseeing spill containment and cleanup. BP’s stock value has plummeted and the company has spent more than $4 billion so far on efforts to plug the leak, clean up the oil, and reimburse people for lost income. Hayward is seen here aboard the Discover Enterprise drill ship in the Gulf of Mexico on May 28. Sean Gardner/Retuers
The Vatican said internal disciplinary proceedings are "not open to the public" in order to protect witnesses and the accused, but encouraged victims to report crimes to state authorities.
Naomi O'Leary, Reuters /
December 3, 2013
The Vatican refused to provide a United Nations rights panel with information on the Church's internal investigations into the sexual abuse of children by clergy, saying on Tuesday that its policy was to keep such cases confidential.