I think that at some point the sense of entitlement of CEO's and Execs has to be curtailed and this latest example shows why that needs to be done. They get paid and paid well to do their jobs and maybe they are entitled to some credit for achieving over and beyond normal results, but this is financial engineering at its worst.
If you do not agree with that, why weren't they all sacked when they tried to get the govt to bail them out?