tagged w/ We are bailing them out?
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Alan Fishman could be eligible for a multi-million paycheck after only three weeks on the job ... if he decides to keep it.
So while Wall Street is begging for a bailout, another bank fails, and what happens? The poor "former" CEO will still make his millions. This is what they want us to hurry up and save?
"Washington Mutual Chief Executive Alan Fishman could walk away with more than $18 million in salary, bonuses and severance after less than three weeks on the job, according to the terms of his employment agreement.
But will Fishman follow the lead of another troubled financial firm and turn his severance package down?
JPMorgan Chase (JPM, Fortune 500) grabbed up the banking assets of WaMu on Thursday after federal regulators seized the company, making it the largest bank failure in history.
JPMorgan Chase CEO Jamie Dimon said in a conference call with reporters Friday that no decisions have been made about the fates of WaMu senior executives.
Still, the demise of WaMu is likely to be the end of Fishman's brief tenure at the helm.
Fishman was hired on Sept. 7, replacing former long-time CEO Kerry Killinger, who was ousted as a result of the company's many financial woes.
WaMu did not reply to requests for comment about Fishman's severance package."
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