Quote:
Originally Posted by EricP
WaMu failed, the Fed took them over and their outgoing CEO, who was on the job for 3 weeks, gets 15 million in pay and severance. I can't even believe that can be justified. It's unreasonable to pay that and totally ridiculous. I wonder if he'll really get it all or somehow common sense will step in and make a huge adjustment. BTW, that's ~$30k per hour for his brief stint.
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The CEO's name is Alan Fishman and He actually got $19.1MM and it works out to over $40,000 an hour according to today's edition of Barrons. Perhaps he will refuse some of the pay as the interim CEO at AIG did.