piggington.com articles
It's smackdown time for the CEO's and banks...Interesting weekend indeed.
http://money.cnn.com/2008/09/07/news/com...
From title thought it meant he we went out somewhere over weekend partying, etc, but real SHOCK is that he was given no golden parachute, just low $14.9 million in deferred compensation.
This would be funny if it were not so tragic.
The new WAMU CEO if from Sovereign Bank. Sovereign Bank has about half a trillion or 13% of its assets in Fannie and Freddie preferred stock.
The new guy is worse than the old one in terms of performance - Sovereign is now technically bankrupt based on 90% haircut on its preferred position.
BTW for all the acrimony Poway Seller stirred up, she got WAMU prediction right from years ago. Early, but right.
From title thought it meant he we went out somewhere over weekend partying, etc, but real SHOCK is that he was given no golden parachute, just low $14.9 million in deferred compensation.
This would be funny if it were not so tragic.
The new WAMU CEO if from Sovereign Bank. Sovereign Bank has about half a trillion or 13% of its assets in Fannie and Freddie preferred stock.
The new guy is worse than the old one in terms of performance - Sovereign is now technically bankrupt based on 90% haircut on its preferred position.
BTW for all the acrimony Poway Seller stirred up, she got WAMU prediction right from years ago. Early, but right.