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.
Showing posts with label Financial services. Show all posts
Showing posts with label Financial services. Show all posts
Wednesday, January 16, 2013
Wednesday, November 9, 2011
Inside Job - See it and understand what the Occupy movement is all about
If you've not seen the documentary Inside Job you should! Wikipedia provides the following description
If you've ever wondered what the Occupy movement is all about, this film is a must see.
Inside Job is a 2010 documentary film about the late-2000s financial crisis directed by Charles H. Ferguson. The film is described by Ferguson as being about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption."[3]In five parts, the film explores how changes in the policy environment and banking practices helped create the financial crisis. Inside Job was well received by film critics who praised its pacing, research, and exposition of complex material.Common Sense has posted on these matters previously. This outstanding film provides a comprehensive summary of the outrageous conduct of large financial services firms, the corruption of government regulators, and the malfeasance of elected and appointed government.
If you've ever wondered what the Occupy movement is all about, this film is a must see.
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