CNN reports Lehman CEO got 22 million bonus last year!

[Generic Other]

Boots Riley song dedicated to the CEO's of America. Called "5 Million Ways to Kill a CEO."

http://www.youtube.com/watch?v=1R9u2MRwiH0

[Overseas]

1. Revolting !!! /nt

[SammyWinstonJack]

6. Very revolting!

x(

[Submariner]

2. I'm becoming convinced that the MBA degree is a license to steal

[whistle]

10. At least from Harvard, Northwestern (Kellogg), Chicago,

...Stanford, Pennsylvania (Wharton) and MIT (Sloan)

Those are the top five from which graduates name their own ticket and seem to have the greatest influence over business policy. The others kinda follow in lock step like good little fascists.

[Tandalayo_Scheisskopf]

13. At one time...

U. of Wisconsin turned out the most CEO's of anyone.

[TornadoTN]

16. I hold an MBA - most programs outside of the Ivy have gone away from that

Most are taught by business leaders and teachers who are waking up to the reality of our current situation and recognize the inherent flaws in paleoconservative market theory. I had some excellent professors that echoed a more liberal worldview in the context of business and management.

That being said, there are still far too many that preach the scorched earth market purist approach - and these students are the ones that are on the fast track to the top, since most businesses see only the $$$'s in the short to medium term, but fail to realize the long term sustainability of their approach.

But be rest assured, the paradigm is shifting as more and more of these large houses keep falling.

[Selatius]

3. And now Lehman is on the verge of bankruptcy. Funny how that works, huh?

[whistle]

4. America can't do performance is rewarded

:wtf: screwed at least 25,000 employees and lord knows how many investors

[glinda]

5. He needs to cough it up

I think that all of these people need to be broke.

[crazylikafox]

7. I hope it was all in Lehman stock... but somehow I doubt that.

[Rabrrrrrr]

8. I'm really flustered by what happened, because Fuld has been a fantastic CEO for years.

Kept Lehman from going apeshit during the dotcom and late 90s hysteria, so that when the bubble burst, Lehman didn't feel it. Kept Lehman steady through the downfall, and even through September 11 and the years after.

He has been, in my opinion, one of the best of the CEOs out there, not buying into the ridiculousness that other investment banks and wall streeters did; but sadly, they got themselves too deep into the debt market.

I'm really sad.

Partly because I own a lot of stock, though thankfully none in my 401(k). Now I'm glad that I *did* sell a bunch of stock after I left, even though it went much higher a year or two later. If I hadn't sold it then, now I'd have four times as much almost worthless stock.

Gargh.

It's really too bad. Lehman's a good company, with good people, and a lot of friends there who are now screwed.

[Jersey Devil]

12. He is a common thief for taking that bonus

His bonus was paid in March of 2008, when he certainly knew the mess Lehman was in.

[Rabrrrrrr]

15. I hear ya.

I can't believe that anyone dealing in debt the last year couldn't have seen the disaster they were making.

[Barack_America]

9. On a similar topic, I'd love to know how much Andrew McCain was paid...

for sending Silver State Bank down the shitter.

[whistle]

14. No way to tell but I found this interesting commentary...

<snip>
It must be nice to be in a rich Republican family

On Friday we saw some pretty awful economic news. Unemployment spiked to over 6%, and the word is out that the taxpayers will be bailing out the massive mortgage giants of Fannie Mae and Freddie Mac.

With news like that it would be pretty easy to miss a much smaller item with huge political implications for the presidential race.
The news I speak of is that regulators have seized Silver State Bank.

"When the casinos treat you poorly, let Silver State treat you like a valued customer."
- the Silver State Bank motto (I kid you not)

The lender, the 11th bank to fail in the U.S. this year, was overexposed to risky real-estate loans, a problem that's vexing many banks amid the worst financial crisis in a generation. Silver State had nearly $2 billion in assets and 17 branches in Arizona and Nevada.
Silver State's failure will be costly to the FDIC's already-strained deposit insurance fund. The FDIC estimated it will incur a $450 million to $550 million hit.

So why does this have anything to do with the presidential campaign? Because just five weeks ago, Andrew McCain, John McCain's son, stepped down from the Silver State Bank's board of directors.


Until recently, the son of Republican nominee Sen. John McCain sat on Silver State's board and was a member of its three-person audit committee, which was responsible for overseeing the company's financial condition.

Andrew McCain left the Henderson, Nev., bank July 26 after five months on the board, citing "personal reasons." He is Sen. McCain's adopted son from his first marriage.

Spokespeople for the McCain campaign didn't return calls seeking comment. Efforts to reach Andrew McCain Friday night at Hensley & Co., the family-owned beer distributor where he is chief financial officer, were unsuccessful.

<MORE>

http://www.economicpopulist.org/?q=content/it-must-be-nice-be-rich-republican-family

[Barack_America]

17. Wow. That was a fascinating read.

Thanks for posting it.

A very nice synopsis of the Bush boys' scandals over the years. Looks like the McCain family is eager to pick up where the Bushies are leaving off.

[leftofthedial]

11. heckuva job!

it's time for a little justice in this country, don't you think?