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WAMU CEO walks away with $19 mil?
This guy was CEO of Washington Mutual Bank, recently named the biggest US bank failure EVER, for THREE weeks and he gets to walk off with $19 million?! And the politicians wonder why American tax payers are against this bailout?! Please. The greedy CEOs and other executives in the ivory towers have already run these banks into the ground. Take the $700 billion and use it to help people get their homes back (a loan, mind you, not a give away). If the banks are so worried about failing, they should sue every CEO who walked away with unearned millions and demand that they have to return it. What do you think?
1 Answer
- 1 decade agoFavorite Answer
Please stop blaming the wrong guy.
If you were a candidate for CEO of a troubled company and the Board of Directors offered you a 7.5 million signing bonus, a fantastic salary and a platinum parachute would you turn it down?
Go blame the Board of Directors, who must have known how serious the problems were, for making the offer. Don't blame the CEO for accepting it.
Aside from that the bailout plan calls for the government to buy the mortgages from the banks, insurance companies, and so on. The government will then be holding the mortgages and many (probably most) of them would not be foreclosed.
Hope this helps
Jerry-the-bookkeeper
