The silence is pretty amazing. The man most responsible, or at least, a central player, in the greatest financial crisis in generations--a crisis that cost tens of millions of people around the globe their jobs and their futures--gets a whopping RAISE...and not a single political leader has stood up to challenge the generosity of the "free market". This is corruption writ large. And, yet, not a word from the White House, not a word from any figures, future presidential candidates or otherwise, to take on what is a big middle finger to the entire American public.
More info today to build on a post I made earlier:
Jamie Dimon, JPMorgan’s chief executive, has been awarded total pay of $20 million for 2013, a huge increase over the amount he received for 2012, according to a regulatory filing released on Friday.
The bank’s board of directors approved the increase even though a steady stream of scandals and a raft of regulatory actions have in recent months cast doubt on Mr. Dimon’s leadership at the nation’s largest bank. The big raise for 2013 came in the face of opposition from a vocal minority of board members, who wanted Mr. Dimon’s compensation for 2013 to be roughly equal to his pay for 2012, which totaled $11.5 million.
Is there anyone willing to say:
This is the example we set for our young people? You destroy lives and yet there is no penalty? And you get rewarded?
This is the great "Free market", in which you cost your company $20 billion and, rather than lose your job, you get a huge reward? And, then, workers are told to take pay cuts to "make the company competitive"?
Is there anyone in the Democratic Party who will point out what a farce this is? That we have the greatest level of poverty in generations and that people can't make ends meet even when they play by the rules--and yet a man who failed to play by the rules and participated in a massive destruction of society's wealth is richly rewarded?
Hello?