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Letter of the Day: Jamie Dimon's payday

  • Jamie Dimon, CEO of JPMorgan Chase, arrives at the U.S. Justice Department for a September meeting in September. (Associated Press)

Dimon's payday

EDITOR: A headline in Saturday's business section shouted out that JPMorgan Chase will double the salary of CEO Jamie Dimon, rewarding the executive for settling investigations of the bank (“Chase doubles pay for CEO Dimon”). Isn't this astonishing? It's like a brick crashing through your window with a message around it that says, “Jamie Dimon's window repairs.”

Didn't Dimon get the bank in this mess in the first place? The bank has been fined more than $15 billion (that is billion with B) for manipulating interest rates and general malfeasance. Shouldn't Dimon be prosecuted for this outrageous performance by the head of his organization? Where does the buck stop anymore?



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