The JPMorgan Dimon Model: Screw Up, Get a Raise……….


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“JPMorgan’s board voted to raise Chief Executive Jamie Dimon’s annual compensation for 2013, a turnaround from last year when it slashed his compensation by half in light of a trading debacle, the New York Times reported. A series of meetings to formulate the pay package turned heated at times, with vocal minority of directors wanting to keep Dimon’s compensation largely flat, citing about $20 billion in fines the bank paid in the last year to federal authorities, the paper said………………”

So, this is new age banking: break the law, cause your bank to pay $20 billion in fines. And get a raise.