06 March 2007

Riches from failure

The sacked* head of HSBC's American operations, Bobby Mehta, may be in line for compensation in the neighbourhood of 17 million USD (£8.7 million in real money) even though the bank's American arm continues to struggle with a serious bad debt problem from his tenure that will take years to correct.

I think I see my problem. I've always done my job too well!

*Re the use of the word “sacked”. According to both HSBC and Mr. Mehta he left by “mutual agreement”. I reckon we all know what that means- he agreed to leave and they agreed not to sack him.

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