WaMu Executives Will See Bonuses Protected from Financial Fallout

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

susan — Thu, 06 Mar 2008 13:00:00 GMT

This is just a joke - I too was one of the 3000 plus laid off at Wamu on 12/10 - having just come on board and funding 1.5 M in November. I don't think any other company has soured me so much. The same folks voting to keep bonuses for the execs are just hoping they get promoted into the top slots so they too can feed at the trough later. And none of them had a thing to do with every making a dime for the company -

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

Karen — Thu, 06 Mar 2008 13:00:00 GMT

I was one of the 3150 employees they laid off on 12/10 as part of their "cost saving measures". Good to see that firing all those people didn't hurt their bonuses.

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

Andy — Thu, 06 Mar 2008 13:00:00 GMT

Why aren't these guys being prosecuted for criminal acts? Is it any wonder that there is no more belief in America's systems when the obviously corrupt elements of our society are rewarded rather than prosecuted? The Investors of WAMU should bond together and hire large law firms to emasculate these Robber Barons. I recommend long vacations for all of those executives who would be prosecuted, but the vacations would be spent in Prison, not in Hawaii. Go get them WAMU Investors! Make them pay! They robbed you blind!

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

Anonymous — Thu, 06 Mar 2008 13:00:00 GMT

I thought I would be one of few that show support for these executives. They help empliment the negative amortization loan...They call it a 30 year fixed though. Simply they charge 5.5% interest on a 30 year fixed (tell customer) however the true rate is 6.75%. You pay on 5.5% and 1.25% interest is added to your balance each month. How is this not a great idea. The customer gets a nice fixed rate but their balance goes up 1.25% each month as does their so called fixed payment. Now how in the world wouldn't that be beneficial to a company customer. Pathetic, that a mortgage program like this would be rewarded.

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

SJ — Wed, 05 Mar 2008 13:00:00 GMT

The stock tumbles 70% in one year and they can't wait to hand out bonuses to Kerry K. and 100 other top executives! Also lets not forget about the 1000's of employees that have already lost their jobs because of senior managements decisions.

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

LouLou — Wed, 05 Mar 2008 13:00:00 GMT

Only in America can you create a crisis and be rewarded for it. WaMu investors and forclosure homeowners should rally at their doorsteps and cry foul. And they should continue to revolt until these greedmongers step up to the plate and put their money on the table for clean up. Fire them all!!

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

Jeff — Wed, 05 Mar 2008 13:00:00 GMT

This should really raise some flags. If you don't require someone to be accountable then why should they? If there is no penalty for poor performance, bad performance, or just straight out corruption ( which they did ), then why should we expect them or anyone else to expect to have to be accountable. Why would anyone take a stand during a meeting and say " hey, I don't think that's a good idea because...." ? I mean heck, they get paid whether they make good decisions or not. It makes perfect sense, right? I forgot, why is it that they get paid again?

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

Annonymous — Wed, 05 Mar 2008 13:00:00 GMT

Here's more fuel to add to you fire. Employees who have to work twice as hard now because of the market had their compensation cut. So while the execs are in their Ivory tower making their profit the rest of us are struggling to get paid. It would be nice if they had to experience the repercussions of their mistakes as their employees, borrowers and investors have to!

RE:WaMu Executives Will See Bonuses Protected from Financial Fallout

Anonymous — Wed, 05 Mar 2008 13:00:00 GMT

Where are the share holders in all of this? The Mutual Funds, Pension Plans, Corporate Portfolios, Insurance Companies that hold these positions????? If these people allow the Executives at the top to get paid these ENORMOUS figures during a time of huge losses, then fine! Let the Executives get paid on "under performance." The thing about Wall Street is, no matter how executive plans are based, whether its compensation on share price or based on earning per share, etc. there are ways for executives to "work" the system in their favor. Does that mean that capitalism isn't really capitalism any longer? Maybe someone should write a book about this. Can Wall Street truly support a free market? "Capital markets and the wagging of the dog syndrome."