http://www.msnbc.msn.com/id/35237484/ns/business-us_business I think this is a huge wake-up call in the financial sector. Decisions made at the top that primarily benefit a small number of people instead of the shareholders at large will be better scrutinized for their integrity and lawfulness. One other comment.....I hope this will help to curtail the greedy, mostly reprehensible business philosophy of "we do it because we can". That is a crap way to go about doing things and what it says to me is that the perpetrator of this kind of rip-off either has a vice grip on the victims of the money grab or is deceiving people that would not approve of it if they were aware of it.
Step in the wrong direction <t>NEW YORK (AP) - JPMorgan Chase & Co. CEO Jamie Dimon received a stock bonus valued at nearly $16 million for 2009 after steering the big bank through the aftermath of the financial crisis, the company said Friday.<br/> <br/> Dimon's bonus carries several restrictions and can be recouped by the bank at any time and for any reason. The stringent measures are aimed at countering criticism over lavish pay at banks that helped cause the financial crisis and then received billions in taxpayer bailouts.<br/> <br/> Like other big bank CEOs, Dimon received no cash bonus for 2009. Instead, he got $7.8 million in restricted stock and 563,562 in restricted stock options, JPMorgan said. The options are valued at about $8.1 million, bringing his total 2009 bonus to $15.9 million.</t>