Matt Taibbi: Jamie Dimon's Raise Proves U.S. Regulatory Strategy is a Joke

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Matt Taibbi: Jamie Dimon’s Raise Proves U.S. Regulatory Strategy is a Joke

Matt Taibbi: Jamie Dimon’s Raise Proves U.S. Regulatory Strategy is a Joke

You know if Matt’s writing about this, it’s going to be great!


Rollingstone-

If you make a big show of punishing someone, and when you’re done they still don’t think they have a behavior problem, you probably picked the wrong punishment. Every parent on earth knows this implicitly – but does the Obama White House finally get it, too, now, after Jamie Dimon’s raise?

When the board of JP Morgan Chase gave its blowdried, tirelessly self-regarding CEO a whopping 74 percent raise – after a year in which the Justice Department blasted the bank with $20 billion in sanctions – it was one of those rare instances where Main Street and Wall Street were mostly in agreement.

Everyone from the Financial Times to Forbes.com to the Huffington Post decried the move. The Wall Street pundits mostly thought it was a dumb play by the Chase board from a self-interest perspective, one guaranteed to inspire further investigations by the government. Meanwhile, the non-financial press generally denounced the raise as a moral obscenity, yet another example of the serial coddling of Wall Street’s habitually overcompensated executive class.

[ROLLINGSTONE]

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One Response to “Matt Taibbi: Jamie Dimon’s Raise Proves U.S. Regulatory Strategy is a Joke”

  1. This ploy to either slap all of us in the face or to send a misrepresented message all is great with Dimon, appears to have been a blunder by the Chase Board. http://seekingalpha.com/article/1980011-jpmorgan-chase-shareholders-should-sell-now?source=email_rt_article_readmore NO ONE IS IMPRESSED!

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