In a nutshell, this shows why we’re economically hosed
Failing Lehman in $100m payout plan
THE Lehman Brothers board signed off on more than $100m (£59m) in payouts to five top executives just three days before the bank went bankrupt leaving thousands of employees out of work in London.
The payoffs, approved on September 12 by the Wall Street giant’s compensation committee, included over $24m in severance packages to the collapsed firm’s top three London executives.
The executives never received the payments – detailed in internal Lehman documents seen by The Sunday Times – because the company filed for bankruptcy protection the next working day, September 15. </em>
Pure, unrepentant greed. Thankfully they never received their bonus for their excellent performance on the job- because they went fucking bankrupt– but the sheer audacity of running your snout into the trough, one last time before it all goes belly up- thats unfortunately the face of capitalism today.
If there were any justice in the world, these assholes next job would include the phrase “Would you like fries with your thickburger” but as we are continually reminded, there ain’t no damn justice to be found.
Right now, we’re all living in the Lower Ninth Ward, and the rain is just starting to fall.
