Name that Bank Executive!
You helped lead one of the country’s biggest banks for a decade, during which time you collected hundreds of millions in compensation. Now that bank needs an open-ended cash infusion from U.S. taxpayers to stem the bleeding. First installment: $300 billion, with more (perhaps much more) to come.
What do you do for an encore?
a. Renounce your worldly possessions and head to the slums of Calcutta to minister to the poor.
b. Hit the golf course!
c. Head to prison
d. Forfeit your fortune to U.S. taxpayers, as a down payment on what they’re putting up to bail out your bank.
e. Join the new administration as a senior advisor.
Answer: (e)
Bonus round questions: 1) name the official; 2) name the bank.
Robert Rubin, Citicorp?