At the Institute for Policy Studies, we've looked back at the CEOs who ranked among the top 25 highest paid for each of the past 20 years. That means 500 richly rewarded CEOs, every one of whom made more in a week than average workers could make in a year. We're told the CEOs deserve these massive rewards because they add exceptional value to their businesses. They're getting paid for performance. Really, what do the numbers say? Let's start with the firms that led our nation into financial crisis. Of the 500 places on our annual top paid lists, 112 are filled by Wall Street CEOs who drove their companies to bankruptcy or bailout in 2008. What exceptional value did those CEOs add? And how about CEOs who ended up getting fired? No one could possibly consider them high performers. Yet fired CEOs make up another 39 names on the highest paid CEO lists of the past 20 years. And how about CEOs who cook the books? Another 38 of our pay leaders have led companies that have had to pay massive fines or settlements for serious fraud. Altogether, the bailed out, the booted, and the busted, occupying nearly 40% of the names in our sample of America's highest paid CEOs. But even these numbers don't tell the full story. We couldn't quantify how many CEOs over the last 20 years have fatten their bottom line by cutting corners on environmental protections, gutting employee pensions, or cheating consumers. We do know that all of the CEO pay leaders over the past 20 years have benefited from what may be the most outrageous corporate loophole in the entire federal tax code. This loophole allows corporations to deduct off their income tax bill all those millions that go into their CEO's pockets. In other words, American taxpayers are subsidizing executive excess. What can we do about this broken CEO pay system? We have plenty of ideas in our 20th annual Executive Excess Report. Please take a look. Thank you.