Washington Mutual Bank failed last night, and was taken over by the Treasury and its assets sold off to J.P. Morgan. Its current CEO, Alan Fishman, took over that job just three weeks ago. Now of course he is out of a job, but to ease the pain he gets to keep his $7.5 million signing bonus and his $11 million severance payment. So he makes $18.5 million for three weeks work, or about $900,000 per day!!
I wonder how the average 20 year enlisted man or woman in the military, earning about $165 per day for risking their life and getting shot at, would feel about this?
No wonder so much of the country is in revolt against bailing out Wall Street.