The Mudcat Café TM
Thread #114937   Message #2460934
Posted By: Paul Burke
09-Oct-08 - 06:58 AM
Thread Name: BS: So it has come to this - Iceland
Subject: RE: BS: So it has come to this - Iceland
THEN we can go after the wrong-doers.

They'll be all off down the road with all your (and my) cash stuffed in their pockets. Plenty of safe havens for anyone with half a billion dollars, and no questions asked.

As Richard Fuld told the House committee concerning his $480 million pay packet (OK it WAS over 8 years), "The majority of my compensation, sir, came in stock. The vast majority of the stock I got I still owned at the point of our [bankruptcy] filing."

No one asked him if he'd borrowed using that stock as security, and if he'd paid it back or just handed over the stock.