Tuesday, October 11, 2011

The Reformed Broker Explains Why We Hate Bank Fraudsters

Because they get paid millions of dollars for failing.


Great Adam Smith's ghost, the free market should operate to reward success, not those who fail ignominiously. Will add more to this manana once outrage subsides.

[Elevenmilliondollars? What the hell world are you inhabiting? Eleven million dollars for two departing executives because things didn't work out? I'm sorry, but were these two executives of Derek Jeter and Alex Rodriguez-level importance for your organization? Is that why there are severance deals like this in place? Or are you just completely psychotic?

It's not that this isn't your prerogative as a private company - it is. But seriously, numbers like these at a time when you're instituting added fees on customer accounts just sound farcical, almost like you're making these payments to get a reaction out people.

You look completely ridiculous with news like this at a time when thousands of people are massing in every major city in the country to make the case that you don't deserve to exist.]



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