CEO loses company $8.5 Billion (in a single quarter). Ooops!
CEO gets paid $156+ Million to leave (and retires to a nice island in the Bahamas).
Shareholders get screwed.
Thanks Stan, have a nice day!
If you are a Merrill employee...you just gave up your bonus pay this year to fund the CEO's severance package. I would be PISSED if I worked at MER. My prediction -- MER stock falls further as employee morale falls, lay offs kick in and employee bonuses are cut dramatically or discarded entirely.
Ok, enough about Stan O'Neal already (does CNBC or Bloomberg having anything else to talk about?).
We have a really boring market today waiting for Mr. Bernanke tomorrow....zzzzzzzzzzzz
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