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Authors, sign in!Word has it that Alan Fishman, the Washington Mutual CEO who took the top job 18 days ago before presiding over the largest bank failure in the nation's history, will walk away from his job with $13.65 million. Not bad for less than three weeks on the job, wouldn't you say?
Let's see, that's $758,333.33 a day.
I have lots and lots of friends who won't make that king of money in a lifetime of work.
Lot's of people may think that a legitimate dimension of so-called "free market economy."
In fairness, I need to add that I read yesterday that the deal may be reconsidered.
If the agreement goes forward on these terms, I'd call it injustice at best.
And in view of all the lost jobs tied into the failure and its fallout, I'd say its a very clear expression of just how out of kilter we are as a nation.
Published September 29, 2008 by Larry James |
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| Tags:
Capitalism
Economy
Income Disparity
Wall Street
Wealth
