Maybe all employees everywhere should work under these conditions.
$1 a year unless you perform. If you don't help to make the company turn a profit that year...sorry no more money for you.
In reality (thank God) every employee signs a payment contract, including CEO's.
The company offers what they think the job is worth. It's a contract just like is done for every employee. If WaMu wants to offer top dollar to try to get them out bankruptcy, let them.
Furthermore, there are lots of jobs out there that work is performed by contract, commission or by the piece.
What makes these feckless, corrupt thieve any different. Their pay should be based upon performance.
All that I am illustrating is this. All of these guys received millions to run their respective companies into the ground. Now they want ordinary, working-class taxpayers to bail them out while they still keep their ill-gotten millions.
I say no!
If there is to be a bailout, I want collateral. I want them to put up their homes, buildings, planes, foreign and domestic monetary assets, their mistresses, wives, kids and anything else that has value.
Then we might consider a loan. Period!!