Posted on 01/24/2014 12:06:56 PM PST by lbryce
JPMorgan Chase almost doubled Chairman and CEO Jamie Dimon’s pay for 2013, rewarding the executive for settling probes against the bank.
Dimon will receive total compensation of $20 million in 2013, consisting of $18.5 million in stock options and a base salary of $1.5 million, the bank said in a statement Friday.
(Excerpt) Read more at washingtonpost.com ...
JPMorgan agreed in November to pay $13 billion in a settlement with the Department of Justice and acknowledged that it misled investors about the quality of risky mortgage-backed securities...p>
as well as his handling of the legal issues facing the lender.
As CEO, he most certainly was aware of the many numerous "legal issues" (code word for questionable practices) violated by JP Morgan, paying $13 Billion in a settlement to essentially save his own skin, and for this is rewarded for “sustained long-term performance” of the company.
And JPM's stockholders' skin.
So Dimon made $20 million for '13. Doesn't Tom Cruise make about $30 million/movie? How about all those football stars?
Small change for the #1 bank CEO IMO.
His pay was doubled because JPM’s earnings dropped and it paid $13 billion in fines.
Life is tough for banksters.
This is why he was rewarded.
It pays to have friends in the White House and Justice Department, this bump in salary reflects that.
Maybe they got the checks mixes up with his legal fees.
Wow - that’s a lot of money. No need for conservatives to go out of their way to defend such obscene amounts of money.
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