This, from the NY Times, about the people you entrust to keep your money:
But the seizure and the deal with JPMorgan came as a shock to Washington Mutual’s board, which was kept completely in the dark: the company’s new chief executive, Alan H. Fishman, was in midair, flying from New York to Seattle at the time the deal was finally brokered, according to people briefed on the situation.
And tone deaf negotiations that have no understanding of employee and Main Street financial issues:
Mr. Fishman, who has been on the job for less than three weeks, is eligible for $11.6 million in cash severance and will get to keep his $7.5 million signing bonus, according to an analysis by James F. Reda and Associates. WaMu was not immediately available for comment.
And Wall Street is wondering why people are pissed off about a bailout? Anyone now wondering why they need to be managing their own career management path?
Scot
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