J.P Morgan CEO Whines Like a Baby

"JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said it’s “unfair” for politicians to criticize Wall Street pay without differentiating compensation based on performance." as quoted in Bloomberg.com today.

But it is OK for assembly line workers to have their compensation affected irrespective of performance - right? And if management decisions cause a company to tank, then it is the unions that need to adjust their compensation agreements - right? Not the management. Never the management.

The long-term security of pensions doesn't mean a thing if the management bonuses and private jets are at stake because it's not about the financial burdens at all. It's about who bears the financial burden.

NEWSFLASH: The days of wine and roses are over for corporate management. And aren't those deer-in-the-headlight looks just plain fun?

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1 comment:

The Lazy Iguana said...

If the asshole thinks he can find a better job, more power to him.

If a bank takes public bailout money, I have no problems limiting executive pay until that money is ALL paid back. All of it. Every dime.

After all, nobody forced the banks to take the TARP money. There is an alternative.

Let the bank collapse, then the management can stand in line for a job like everyone else.

You have to flop an awful lot of Whoppers to make $500,000.

They need to suck it up and shut the fuck up. Nobody wants to hear them cry.