The New York State regulator for MBIA Inc.'s insurance unit criticized the company for paying executives $11.4 million to stay on board for three more years, Bloomberg News reported yesterday. MBIA said on Wednesday that it is paying the cash bonuses to keep four executives with the company through December 2015. Its board approved compensation for Chief Financial Officer Chuck Chaplin, Chief Operating Officer William Fallon, Chief Legal Officer Ram Wertheim and Chief Portfolio Officer Anthony McKiernan that include the retention awards and 2 million shares of stock.
