JP Morgan CEO Gets Pay Cut After Trading Loss - ABC News:
Briefly the story notes that Mr Dimon's pay has been cut from $23 million to $11.5 million ($1.5 million in salary and $10 million in restricted stock) following a loss of $6 billion by a London JPM trader. On the positive side at least something was done. That said, Mr Dimon's cut in pay, $11.5 million, is 0.2% of the loss his failure to effectively manage cost. Common Sense wonders, how many other JPM employees having lost $6 billion for the bank would still have a job, never mind an $11.5 billion salary? Just a bit of common sense.
'via Blog this'
With a nod to Thomas Paine, Baron d'Holbach, and "Captain Obvious" perspectives on what should be, but remarkably often isn't, obvious common sense.
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