You tell me it's the institution...
JPMorganChase Board of Directors this week voted to double CEO Jamie Dimon’s pay to something north of $20million. That he received such a big raise after the bank was forced to pay out more than $20B in fines for illegal activity has raised a number of eyebrows among analysts and shareholders. That he is receiving this raise after the bank laid off some 7,500 employees in 2013, and recently announced it would not give employees raises due to the large fines, shows a distinct callousness toward employees, while raising questions about JPMC leadership.
Insert something here about eating cake.
...the Board felt compelled to pay Mr. Dimon tremendously well in order to send a message to Washington that the Board thought the regulators were wrong in pursuing malfeasance at JPMC.
Put image of Marie Antoinette here.
The Board of a troubled bank with billions in trading losses and billions in fines for illegal behavior decided to withhold employee pay raises, but double the CEO compensation
Note with just a touch of irony that this is from Forbes, "the Capitalist Tool."