The Telegraph reports,
Ina Drew, the executive who ran the department behind JP Morgan's $2bn (£1.2bn) trading loss, has left the bank and will walk away with about $32m...
One of the best paid women on Wall Street, Ms Drew last year received a remuneration package worth $15.5m.
Corporate filings show that following her resignation she is entitled to $400,000 in severance as well as a share award that was worth $16m yesterday. On top of this, she has unexercised options that were valued at the end of last year at $3.44m, a series of retirement benefits worth a further $2.63m, and a $9.87m deferred compensation pot built up over several years.This kind of greed and irresponsibility is all-too-familiar to Hostess Teamsters. They've watched the company's top management help themselves to big paydays while driving the company into bankruptcy.
It's also familiar to employees of firms that Mitt Romney's company took over. Romney yanked as much money as he could out of the companies, kick them to the curb and then hide his loot in a Swiss bank account.
The 1% isn't smarter than the rest of us, or more competent. They've just rigged the rules for themselves.
