screw the peasants - there is no "TAILS"...
JPMorgan Shouldn’t Cut Dimon’s Pay Over Loss, Harrison Says
By Dawn Kopecki and Erik Schatzker - Oct 4, 2012 8:27 AM MT
Bloomberg News
JPMorgan Chase & Co. (JPM) shouldn’t cut Chief Executive Officer Jamie Dimon’s pay over the bank’s $5.8 billion loss in its chief investment office, former CEO William Harrison said.
“I wouldn’t penalize him,” Harrison, 69, said today in an interview on Bloomberg Television with Stephanie Ruhle and Erik Schatzker. “That might be a controversial statement. I think Jamie is doing a great job.”
“So the model worked,” he said. “Mistakes were made. I mean, maybe you penalize Jamie some, that’s a choice they’ve got to make. But I wouldn’t go after the CEO in a case like this.”
Dimon, 56, received $23 million in pay and bonuses in 2011, making him the highest-paid CEO of a major U.S. bank.
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