Say What??

Published on October 1, 2008 By Artysim In Politics

Wanna make a quick 19 million bucks? All it'll take is 3 weeks.

Cause that's what hapenned to the last CEO of Washington Mutual (WaMu)

He worked there for three weeks, during which time the bank nosedived and is now being snapped up by JP Morgan at firesale prices.

Okay, well, he's still technically working there. He has to stay on the job for a little while longer while JP Morgan consolidates it's takeover of assets, but comeon!

Let's look at this this way:

Three weeks, on a conventional work-week is 120 hours. Let's say buddy (Alan Fishman) is a workaholic who puts in 12 hour days 7 days a week. So that's 252 hours.

19 million, divided by 252 is..... drumroll please.....

$ 75,396.00 dollars per hour. In one hour of work, he earned more than the average American will see in a year. If he only put in 8 hours a day 5 days a week (and who wouldn't if the bank was going under) you're looking at 158 grand per hour.

I could have done that job too! It's not like he saved the bank or turned things around for them... the end result was still failure, but for some reason he gets 19 million bucks! Nor did he help them "create wealth" or any such nonsense. He was there for 3 weeks!!!!

The cost of the bailout (estimated at 700 billion) works out to be $ 2,300.00 dollars per person in the entire U.S of A.

I think for three weeks of backbreaking labor, Mr. Fishman should do the charitable thing and help out his less fortunate brethren with their share of the burden!!!

But hey, he earned that money man. Free market dude, can't mess with that. Besides, I'm sure he's saving up to get his own Gulfstream, a far better investment!

Comments

Dr Guy

on Oct 01, 2008

Some pigs fall into a mud puddle and come up smelling like lilacs.

I would say that at the very least, the clowns who gave him that package have a lot to answer for with the shareholders. A WHOLE lot.

But I dont fault the pig for falling in mud.

CharlesCS

on Oct 01, 2008

I bet you, or anyone else, would not be complaining if it were you or anyone else getting 19 million for 3 weeks of work. Some people are more lucky than others, I personally don't care. Given the chance, I'd take the 19 million package as well. After all, is that money coming from the $700 billion or the money they made?

Artysim

on Oct 01, 2008

I bet you, or anyone else, would not be complaining if it were you or anyone else getting 19 million for 3 weeks of work.

Of course I wouldn't be complaining!!! I'd be all over that like a fat kid on a twinkie!

To celebrate, I would go out and buy a H3 and drive it around a struggling neighbourhood with loudspeakers blaring my success, and also at the same time asking for each of them to send my bank 2,300 dollars (further explaining that if they have a family or dependents that would require a further 2300 per person, so if you had a four person family it would really be $ 9,200.00 in total)

Yup, it would be grand indeed.

RoyLevosh

on Oct 01, 2008

Now where have I heard that kind of thinking before?

Draginol

on Oct 02, 2008

Yea, he's scum but what does that have to do with us?

How is this much different than someone like Paul Mccartney's ex-wife getting $70M or whatever in the divorce? It's shocking but not really any of our business.

maudlin27

on Oct 04, 2008

Wanna make a quick 19 million bucks? All it'll take is 3 weeks

Can't you do it quicker with the lottery?

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