House votes to clamp limits on bonuses

[The Poet]

When Washington Mutual fell into Chapter 11 and was taken over by Chase, the CEO of WaMu, Alan H. Fishman, received a $7.5 million sign-on bonus and was offered an additional $11.6 million cash severance (which he, perhaps wisely, declined). This was after he had spent exactly 17 days in his position.

Do you really think some oversight is a bad idea? Really?

[Starscream]

Originally Posted by The Poet

When Washington Mutual fell into Chapter 11 and was taken over by Chase, the CEO of WaMu, Alan H. Fishman, received a $7.5 million sign-on bonus and was offered an additional $11.6 million cash severance (which he, perhaps wisely, declined). This was after he had spent exactly 17 days in his position.

Do you really think some oversight is a bad idea? Really?

The money is offered to attract the best of the best. If we don't pay well, then the good ones go somewhere else.


A lot of the bonuses that are handed out go to sections of these businesses that are profitable, even if the corporation as a whole is in the red. The media doesn't tell this side of the story.