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