Posted on | October 7, 2008 |
Richard Fuld, CEO of the bankrupted Lehman Brothers, disputed the figure that Henry Waxman came up with. It wasn’t $480,000,000 that he received over the last 7 years at Lehman Bros. It was really closer to $310 million. WTF? What in God’s name is anybody going to do with over 300 million dollars? Buy a palace? Does anyone remember waaaaaaaayyyy back when a million dollars was a LOT of money? Back in the 50s I think. Probably until the price of gold floated. Now it’s chicken feed. If you don’t have a million in the bank, you’d better not retire. Making a million a year? Upper middle class. And at the same time people are making these ungodly obscene amounts of money–for driving a respected firm into bankruptcy–there are entire families in these United States that are trying to make do with under $15,000 a year. That’s thousands. A million times LESS than the billions that are now the marker of wealth.
And do you want to know what this asshole Fuld was doing? As the Titanic was sinking? He was making sure that the executives got their full multi-million dollar salaries before bankruptcy was to be declared.