It's going to be very hard psychologically for these people, Frank said. I talked to one guy who had to give up his private jet recently. And he said of all the trials in his life, giving that up was the hardest thing he's ever done.via. Some of his commenters suggest some rather, ah, extreme measures that should be taken by ordinary people who have to work hard and will now be pushed further into poverty and financial stress by the incompetencies and thievery of the moneyed class. Like I said last post, I have some sympathy for this but it ain't going to happen. It made me recall this earlier post. There's no defending the murderous excesses of communism, but I am sympathetic to the underlying rage. In the words of Principal Skinner, "There's no justice like angry mob justice."
The chairman of Lehman Brothers, Richard Fuld, still has his mansion in Greenwich, CT, his oceanfront estate on Jupiter Island in FL, and his Park Avenue co-op in Manhattan. Many at Lehman blame Fuld for dallying while his investment bank went bust, taking risks with other people's money while he cleared over $40 million in salary and stock in the last year alone.
Former Bear Stearns CEO Alan Schwartz collected more than $38 million in salary and bonuses in the last three years for which figures are available, though he and Lehman executives also saw their net worths drastically plummet as stock values crashed.
Sunday, September 21, 2008
Oh, the humanity!
Won't somebody think of the investment bankers?