James Wells III, president and chief executive of SunTrust Banks, received compensation valued at around $4.6 million in 2007, according to a regulatory filing made with the Securities and Exchange Commission. The executive received $1 million in base salary and $600,000 in non-equity incentives along with options valued at $2.7 million. The package was topped off with $169,944 in other compensation, including financial planning services, use of company aircraft, club memberships, and 401(k) matching contributions.

SunTrust shareholders weren't so lucky as the company posted a $510 million loss tied to the purchase of securities from moeny market funds managed by a subsidiary and from structured investment vehicles. It purchased these securities because of the lack of an active debt market. Banks have been forced to reduce the value of securities in illquid invesmtents, but SunTrust tried to purchase securities at actual value and then record the loss instead. The bank also recorded $45 million in write-downs associated with other securities and mortgages.