some interesting (and infuriating) information about last night's WaMu seizure

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The NYT reports the following about Alan Fishman, WaMu's CEO:

Mr. Fishman, who has been on the job for less than three weeks, is eligible for $11.6 million in cash severance and will get to keep his $7.5 million signing bonus, according to an analysis by James F. Reda and Associates. WaMu was not immediately available for comment.

(h/t: Bitch PhD, who wisecracks "So that's where my overdraft fees have been going.") WaMu's new owner, JP Morgan Chase, will probably be far less generous with workers:

JPMorgan executives said that it was too early to know how many employoees [sic] might be laid off, but industry analysts said the number could be as high as 5,000. Analysts expect the bank to close about 540 branch sites

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This page contains a single entry by cognitivedissident published on September 26, 2008 2:30 PM.

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