As much as I DETEST my former congresscritter, Henry Waxman,
he is doing a decent job of presenting Richard Fuld (head of Lehman
Brothers) and his stunning compensation.
For running a venerable company into the ground at terminal velocity.
I’ve NO problem with NO limit on executive compensation.
Except when it’s paid to destroy a firm and put thousands out of job.
Figuring out what’s equitable is above my paygrade.
But like pornography, I can’t define what’s out-of-bounds, but
I know it when I see it!!!
Most of Fulds wealth was wiped out like all of Lehman’s employees.