8 MILLION DOLLARS TO CEO OF WAMU

I just heard from the AP news wire that Washington Mutual (WAMU) has a new CEO. They have told the new CEO that if he can keep WAMU alive to 2009, he will receive an $8,000,000 bonus.

I had to play back the AP Video three times to make sure I heard what I heard. Where do they have 8 million dollars to just give away. They are in dire straights and yet there still sees to be millions. How about applying that 8 million dollars to cover those bad loans.

It's amazing how all of the executives get theirs before companies go under. The only person who gets hurt by this is the average Joe taxpayer. We always foot the bill!