160 Million Dollar Retirement PACKAGE for failing

[BOSSHOG]

That's the deal the head of Merrill Lynch got for being fired and causing the company to lose alot of money. Wow, check out those conservative values in action. I guess he was held accountable by gawd. Indigent children don't need no stinking liberal help for their health care, but we got to take care of those conservative business leaders even if they fail at work.

[billyoc]

1. More of that personal responsibility I keep hearing about. nt

[AndyA]

2. Hey, they didn't pay him the bonus he was due, and the wife is going to have to delay

getting new carpeting for the house in the Hamptons.

And, that junky old $75,000 Mercedes will have to make it another year before it gets replaced...it's already 4 months old, for Pete's sake!

Don't you feel sorry for them? They are barely scraping by...

:sarcasm:

I know someone who lost a lot of money in their ML account due to these idiots mishandling it.

[madinmaryland]

3. SOB was responsible for the cutting of 24,000 jobs.

Including me. :grr:

I get three months severance and he gets 160million.

:grr:

[Warpy]

4. I dumped them at the beginning of this year

because I never liked the way they did business. My dad had clung to them his whole life because Merrill was a buddy of his in the war. He once mentioned that his own stock picks were doing well while the ones ML picked were dogs. I asked him what that was telling him and he just grunted.

This schmuck is getting his because he got greedy as hell, couldn't resist all those CDOs and hedge fund positions to goose the company profits, and pushed the same investments off on their customers. Now all those risky chickens have come home to roost, and Merrill Lynch will be lucky to survive unless there is a government bailout.

That severance package doesn't look so good when you realize he was reaping hundreds of millions a year plus some of the best corporate perks in the business. He'll be facing some legal problems, too, as resentful clients start to realize how badly things were bungled, and there should be enough of them to eat up that whole package.

I just hope he took his own advice and has all his assets in hedge funds.

[Javaman]

5. The society of successful failing. nt