Dec 7, 2010

Executive Pay Check

Washington Mutual CEO Alan Fishman did well. When WaMu failed and was seized by government regulators, Fishman had been on the job for just 17 days. However, he was contractually guaranteed $11.6 million in cash severance on top of the $7.5 million signing bonus he got for taking the job. He netted just under $20 million for 17 days of work. Not bad for the head of a collapsing corporation.