Forum Post: the foxes are still guarding the henhouse!
Posted 11 years ago on May 12, 2012, 9:18 a.m. EST by myows
(133)
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Chase bank losses 2 billion dollars on risky trades
http://www.nytimes.com/2012/05/12/opinion/jpmorgan-chases-2-billion-loss.html?hp
It seems that 2+ years after the financial meltdown the foxes are apparently still being allowed to guard the henhouse. It doesn't matter to these CEO's what they do because they know that
A) they will still get their 25 million dollar salary regardless of good or bad decisions B) the company will be bailed out of any crisis by the US taxpayer
And yet somehow alot of the general public has been tricked into thinking that some middle class union worker (who's just trying to keep his pension and healthcare from being taken away and his job from being outsourced to India) is the bad guy. Amazing.
And when the loss becomes $4billion, where will be the claw back of the $14 million or $25million? And of course we should increase Mr. Dimon's pay package because, after all he did mismanage the company more than we expected. Superior performance, superior pay.
Good Post
There will be a time of reckoning
Yeah, but the "shareholders" said he was still worth $23 million, plus perks.
Who is that keeps telling us it's the "shareholders" who really hold the key and would surely reign in salaries for those that make mistakes?
Oh yeah......libe(R)tarians.