Everyone is probably tired of hearing about the big bailout package that does or does not happen depending on the day of the week. But I just read an article about WaMu (I love that name) Washington Mutual CEO Alan H. Fishman. He has been working for three weeks and gets a severance package of about $20 million dollars.

This really seems nuts but it also raises a question. We have problems with CEOs of large failing banks and companies getting huge golden parachutes lately. I do too, but how is it any different than professional athletes getting a huge signing bonus, going out on the field and getting a season ending injury?

I’m all for paying someone what they are worth and pro sports bring lots of economic activity etc. but we should not be surprised at these CEO bonuses and salaries when we are willing to support pro athletes playing games that really wont change anyone’s life one way or another.