Jamie Dimon's Pay Raise Sends A Message About What Really Matters To Wall Street
LINETTE LOPEZ
After heated debate, JP Morgan's board voted to increase CEO Jamie Dimon's pay after a tumultuous year of embarrassing lawsuits for the bank, reports The New York Times' Jessica Silver-Greenberg and Susanne Craig.
For 2013, Dimon will take home $20 million, compared to $11.5 million the year before.
This says everything about what JP Morgan and its board considers "normal" in today's Wall Street bank. Normal is not losing the bank's own money on a terrible trade. Normal is paying out $20 billion in fines over the course of one year for a variety of transgressions that touch on a variety of the bank's businesses.
Just compare what happened the year Dimon's pay was cut, to what happened in 2013.
Read more: http://www.businessinsider.com/what-jamie-dimons-pay-raise-means-2014-1
