JPMorgan Gives Criminal CEO a 74 Percent Pay Raise
From Ring of Fire Radio:
The board at JPMorgan Chase elected to give company CEO, Jamie Dimon, a 74 percent raise this year following a 2013 filled with billions in fines for company malfeasance. The pay increase is angering to financial reform advocates because the man whose company committed many financial crimes not only avoids any government prosecution, but gets more money.
Dimon’s salary was cut in 2011 from $23.1 million to $11.5 million, which includes his base salary of $1.5 million plus bonuses. The board-approved pay raise is $18.5 million in restricted stock which will vest over the next three years. The board attributed the raise to Dimon’s “stewardship” and “sustained long-term performance” in the wake of the bank’s turbulent legal issues. Essentially, Dimon got a raise for “handling it well.”
You can read the full article here at Ring of Fire Radio.
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