6 October 2008

Nine million bucks for screwing up and getting fired?

Not living on Wall St., I have a hard time wrapping my noggin around this. Someone help me out:

The panel unearthed internal documents showing that on Sept. 11, Lehman planned to approve "special payments" worth $18.2 million for two executives who were terminated involuntarily, and another $5 million for one who was leaving on his own.

That was just four days before the government let Lehman go under, touching off a cascading series of financial shocks and failures that put Washington on track for the multibillion-dollar rescue the Bush administration urgently requested from Congress at the end of that week.

A company's going bankrupt and the company approves giving people who were fired "special payments"! I wonder if my boss is planning on firing me and giving me 9 million bucks in "special payments"? I'm sorry, but I'm just a simple person who, like so many others, lost most of my life savings in this mess. Our children will spend many years of their lives paying for this. Shouldn't these fat sons-a-bitches be hanging from ropes??????? For much less that 9 million, I can go buy a rope and give these people their proper reward.

And there are still ignorant SOBs who want to vote for McCain so that he can continue the Shrub legacy and reward these people with tax cuts? Because they "earned" it? I just don't get it. Are Americans really this stupid?


wunelle said...

Richard Fuld himself earned something North of $250 million for a few years' work at Lehman.

I agree. They should be swinging from a rope and their estates disbursed to the population from whom they stole.

nicholas said...

I am disgusted but not remotely surprised.

Vancouver Voyeur said...

They like to hide behind the argument that they are only honoring their employment contract with them. They don't want to get sued for breach of contract. To which I respond, "well then put terms in that contract that if the company goes under or they don't turn a profit for the company, they don't get their golden parachutes." D'uh!

Karlo said...

When company's go bankrupt, they often don't pay their other employees or fail to pay pensions. Why should the CEO be treated differently? I feel like we're still living in the age of royalty.