and if you think this shite is going to stop now that we're REALLY in big big big trouble, you're sadly mistaken. these people (the execs and the like) are NOT as you and i are. they're more like the big dicks (cheney i'm talking about this time) of the world. secretive, money grubbing, usually have a mistress or two on the side. it's rare a woman is let in but i'm guessing there are a couple of them. i don't trust them. i don't like them. i have no need for them. (i'm not saying ALL executives are weasels, just loads of 'em are. they fiddle while rome burns)
Lehman board recommended $20 million in executive ‘special payments’ while filing for bailout.
The AP reports that Lehman CEO Richard Fuld admitted to Congress today that he has taken home over $300 million since 2000, “some $60 million in cash compensation.” Furthermore, “executives who feared for their bonuses in the company’s last months were told not to worry,” even as Lehman plead for a federal bailout. Waxman revealed that “the board give three departing executives over $20 million in ‘special payments.’” ......................
“In other words, even as Mr. Fuld was pleading with Secretary Paulson for a federal rescue, Lehman continued to squander millions on executive compensation,” Waxman said. Transcript:
WAXMAN: Mr. Fuld also mocked the Neuberger suggestion that top management should accept responsibility by giving up their bonuses. His response was: “Don’t worry – they are only people who think about their own pockets.”.......
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