Double WaMu: Alan H. Fishman In Line For Million Dollar-A-Day Bonus
WHEN Lehman Brothers collapsed, news was of the French trader who’d arrived at his desk to see his desk leave the office. (Although now Nomura, the Japanese outfit, has agreed to take over the European business, his desk might return).
Now learn of CEO Alan H. Fishman, chief executive of Washington Mutual. He started his new job at the failed bank just three weeks ago.
Mr Fishman is now eligible for $19.1 million in compensation.
The New York Times notes:
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.
No one there to man the phone. No-on there to pay the phone bill…
Posted: 27th, September 2008 | In: Anorak In New York, Money Comments (30) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
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September 29th, 2008 at 2:07 pm
I must admit that I *do* imagine the results, every hour of every day…save me, someone..I need a bail-out…
September 29th, 2008 at 2:00 pm
Doesn’t bare thinking about, does it…
Sorry about that one
September 29th, 2008 at 1:54 pm
Indeed. If a weekend with Nancy gives people “woozy spells” then I can only imagine the results of being under the spell of a moose-munchin’ milf for a day or two.
September 29th, 2008 at 12:52 pm
I fear it’s worse than that, Jack.
Sarah Palin has a wand which she waves around as is her wont, so that woozy spell could be even more significant than Hank Paulson’s knee-trembler with Ms Pelosi…
September 29th, 2008 at 12:30 pm
They did it! They truly did it! However, there was nearly one casualty:
‘The negotiations had lasted all weekend and were so intense that at one point Treasury Secretary Hank Paulson suffered what was described as a “woozy spell”.’
news.bbc.co.uk/2/hi/business/7640872.stm
Was this the soundtrack to the “intense negotiations”?
“I’m pickin up good vibrations
She’s giving me excitations
I’m pickin up good vibrations
(oom bop bop good vibrations)”
Calm down Hank!
September 28th, 2008 at 4:21 pm
I shall definitely be putting that on the ‘buy and burn’ list; I don’t care how much money Hank Paulson has, the earth is not moving in my vicinity…
September 28th, 2008 at 4:12 pm
politicalhumor.about.com/library/images/blpic-pelosiqueen.htm
September 28th, 2008 at 4:11 pm
http://politicalhumor.about.com/library/images/blpic-pelosiqueen.htm
September 28th, 2008 at 4:10 pm
“Nancy and I were face to face all night, it was pure magic. I made all the right moves and she made all the right responses, and we made it happen together. I always said I’d move Heaven and Earth for the American People, and truly the Earth moved for us.”
–excerpt from the forthcoming book, “I & Queen Nancy: The Credit Crunch Affair”.
September 28th, 2008 at 3:51 pm
Well, as they always say, the price can go up or down…
September 28th, 2008 at 3:31 pm
‘Henry Paulson, who took part in the talks, said that Congressional leaders had been “working very hard”.’
I bet!
September 28th, 2008 at 12:28 pm
‘Henry Paulson, who took part in the talks, said that Congressional leaders had been “working very hard”.’
I bet!
http://news.bbc.co.uk/2/hi/business/7640223.stm
September 28th, 2008 at 11:10 am
Rasputin,
That is the best one-liner on the marking to market of unvaluable instruments that I have read in the last 3 weeks.
Thank you.
I shall go away and steal it, sorry, make some coffee.
September 28th, 2008 at 11:08 am
Perish the thought, Jack.
As long as we stick to lipstick we are reasonably safe.
I hope.
Maybe.
But I’m not doing it with a moose, under any circumstances…
September 28th, 2008 at 10:59 am
I was very intrigued when I read about Paulson going down on Pelosi. Who knows what kind of sordid machinations are really going on backstage?
September 28th, 2008 at 10:54 am
It appears that the world financers know the cost of everything and the value of nothing.
September 28th, 2008 at 9:39 am
EEK!
My apologies, people.
That line should have read:
‘Hank ‘I’m Begging You’ Paulson going down on his knees to Ms Pelosi’
If I could do that emoticon that shows you blushing, I would…
September 28th, 2008 at 5:56 am
June Says:
September 27th, 2008 at 11:52 pm
shall we have a bet on what the final figure( to the nearest 100m) is? Including their golden handshakes and bonus pension schemes of course
………………………………………………………………….
LOL! Shall we ask annie1 what the odds are on us getting to even within three zeros???
Fucking Hell - Capitalism eh!
It’s a fucking corrupt way of running the World but marginally better than Communism - if you want food that doesn’t taste of machine oil and French perfume that comes from France and not China!
September 28th, 2008 at 12:08 am
Yep!
None of us want to bother with trifling details like a price tag; we’d much rather read about Hank ‘I’m Begging You’ Paulson going down on Ms Pelosi….
September 27th, 2008 at 11:55 pm
The nearest trillion would perhaps be easier.
September 27th, 2008 at 11:52 pm
shall we have a bet on what the final figure( to the nearest 100m) is? Including their golden handshakes and bonus pension schemes of course
September 27th, 2008 at 11:30 pm
The bad grammar, that is.
I suspect that the CEO’s will find it easier to get jobs than the poor bloody infantry, but it does look as if the financial markets have hit full panic mode.
When bankers start talking about people not being able to take cash out of a bank to buy food with then one realises that they really are hoping to push the bail-out higher…
September 27th, 2008 at 11:25 pm
Well, in my case it’s more usually a result of alcohol, but each to his, or her, own.
And that has just provided me with the opportunity to pour a large glass of Caol Ila. It’s strange stuff; for some reason it tastes as if it ought to be good for you…
September 27th, 2008 at 11:25 pm
But I’m sure Sarah Palin will be a lovely Granma, mixing looking after Bristol’s lovely bubba with vital VP activities like shaking hands with jobless CEOs looking for fail-safe investment opportunities.
September 27th, 2008 at 11:20 pm
“middle of THE film”…bad granmar is also a sign of the post-modern condition.
September 27th, 2008 at 11:19 pm
If “Great Depression II” is now hitting cinemas, I hope the middle of film is more racy than the first one. I don’t think I could stand 10 years of “will-they-won’t-they” before the real saucy action stars - just start World War III over Poland and get it over with already. Must be the diminished attention span of post-modern kidz.
September 27th, 2008 at 11:04 pm
Well spotted, but I’m pretty sure that Sarah Palin would have Kate for toast, or possibly on toast, with a side order of chips.
The press here have started printing headlines like ‘The next decade could be our very own Great Depression’, so at some point it may dawn on the fragrant duo that the rest of the world may have more pressing matters to worry about than feeling their pain…
September 27th, 2008 at 10:49 pm
“McCann’s desire to revive his Presidential campaign”
Kate would make a fine First Lady, and Gerry is sure to get great support from the crucial “parents-with-missing-children” voting bloc.
September 27th, 2008 at 10:19 pm
In fairness, and if I can stop laughing long enough to type that, this is chicken feed. I have written at some length on WaMu, and the way it got shafted by McCann’s desire to revive his Presidential campaign, so I won’t repeat it here.
But Goldman Sachs is thought to have had $20 billion that it would have lost if the US government hadn’t bailed out A.I.G., and the person who authorised that bail-out was the former head of Goldman Sachs.
http://www.nytimes.com/2008/09/28/business/28melt.html?ref=business
September 27th, 2008 at 9:59 pm
What’s the good of being a CEO if you can’t grab the cash and run to your private choppper when the ship starts sinking five minutes after you step aboard? “Sorry chaps, can’t take any passengers in my Chinook, y’see it’s all full o’ gold ….”