Monday, May 14, 2012

THE MARKET DOESN'T APPLY TO MOTU

They can have enormous FAILs yet still walk away filthy rich.  I think Michael Milken, the junk-bond genius, was the first one I noticed because even after paying $1.3 Billion in fines, he was still a billionaire.  In the recent Great FAIL, Joe Cassano, the man who brought down AIG, is still a millionaire and so is the woman who was responsible for JP Morgan losing at least $2 billion:
JPMorgan investment chief out
By Charles Riley @CNNMoney May 14, 2012: 1:41 PM ET

One of the highest paid women in the financial industry, Drew made $15.5 million in 2010. She has spent more than 30 years at JPMorgan

Drew is in line to receive $14.7 million severance in the form of stock, $2.6 million in pension benefits and almost $10 million in deferred compensation, according to Theo Francis, a senior reporter at footnoted.com, a website that specializes in SEC filings.

The company's board of directors could award additional severance pay.

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