A CEO screwing up and driving the share price down is hurting his shareholders and they should, if they had any sense at all, band together to throw him out.
If the company dies, well so be it, lets welcome the next better player. This is called capitalism. This is a matter for the markets to sort out the successful - unless there is an impending bailout, there is no reason for the general public to get involved.
I'm not going to call for Dick Fuld's head - it's a matter between him and his shareholders.
But the reckless behaviour of FRE under Franklin Raines is a matter for all of us to be outraged at because he abused the spirit of the credit protection extended to FRE by the US taxpayers.
It was extended to him and FRE in the spirit of making homeownership more affordable, but was turned instead to obtain one of the cheapest borrowing rates in the land so FRE could speculate on purchasing subprime mortgages.
Those are the kinds of people we should be rolling the gullotine out for since they've abused a pact of trust between we the taxpayer and them.