they end up in the street like many of the people they lent money to? No, of course not. They received what's being called a "cash infusion" of $7 billion to help them overcome their losses. Was the CEO, Kerry Killinger fired? Did he suffer a setback like the one the company suffered? Did he have to worry about ending up on the street? Of course not. He's a deserving capitalist... well, I'll refrain from adding to that. He was "compensated" with $14.4 million. Al Capone, wherever he is, wishes he got into this racket. It is technically legal in our system... for some reason. See this story in the Washington Post for details.
Tuesday, April 8, 2008
Washington Mutual
Washington Mutual (like many lenders) was poorly managed, and suffered huge setbacks. Do
they end up in the street like many of the people they lent money to? No, of course not. They received what's being called a "cash infusion" of $7 billion to help them overcome their losses. Was the CEO, Kerry Killinger fired? Did he suffer a setback like the one the company suffered? Did he have to worry about ending up on the street? Of course not. He's a deserving capitalist... well, I'll refrain from adding to that. He was "compensated" with $14.4 million. Al Capone, wherever he is, wishes he got into this racket. It is technically legal in our system... for some reason. See this story in the Washington Post for details.
they end up in the street like many of the people they lent money to? No, of course not. They received what's being called a "cash infusion" of $7 billion to help them overcome their losses. Was the CEO, Kerry Killinger fired? Did he suffer a setback like the one the company suffered? Did he have to worry about ending up on the street? Of course not. He's a deserving capitalist... well, I'll refrain from adding to that. He was "compensated" with $14.4 million. Al Capone, wherever he is, wishes he got into this racket. It is technically legal in our system... for some reason. See this story in the Washington Post for details.
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