Dimon pay raise mocks accountability - MarketWatch First Take - MarketWatch
This is infuriating. This guy should be punched in the face because of his negligence and malfeasance and resulting market-threatening 'leadership,' but he gets a raise? This another sign of the serious, diseased underbelly of American greed eating away at the core of a great nation.
"Dimon is slated to receive more than the $11.5 million
compensation package he received in 2012, a year his pay was cut
following the bank’s losses resulting from the “London whale” trading
fiasco.
That Dimon would be able to reap a reward for that sort of performance
underscores just how empty Wall Street’s promises about how pay would be
tied to performance after the financial crisis"
This is infuriating. This guy should be punched in the face because of his negligence and malfeasance and resulting market-threatening 'leadership,' but he gets a raise? This another sign of the serious, diseased underbelly of American greed eating away at the core of a great nation.
"Dimon is slated to receive more than the $11.5 million
compensation package he received in 2012, a year his pay was cut
following the bank’s losses resulting from the “London whale” trading
fiasco.
Last year was even worse for J.P. Morgan
JPM
-1.59%
and shareholders. The bank had to set aside more than $25 billion in
legal reserves and ended up spending it on settlements tied to the sale
of damaged mortgage securities, market manipulation and other alleged
wrongdoing. J.P. Morgan reported a third-quarter loss and a drop in
profit in the fourth quarter.
JPM
-1.59%
and shareholders. The bank had to set aside more than $25 billion in
legal reserves and ended up spending it on settlements tied to the sale
of damaged mortgage securities, market manipulation and other alleged
wrongdoing. J.P. Morgan reported a third-quarter loss and a drop in
profit in the fourth quarter.
That Dimon would be able to reap a reward for that sort of performance
underscores just how empty Wall Street’s promises about how pay would be
tied to performance after the financial crisis"
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