It’s Tough at the Top

January 16, 2010

Imagine if your boss felt this way about the firm or institution that you work for, telling the press that “Though these results showed improvement, we acknowledge that they fell short of both an adequate return on capital and the firm’s earnings potential.”

That’s JP Morgan Chief Executive Jamie Dimon by the way.

Now, imagine if given poor results, you and your workmates will still be taking home $9.3/£5.7 billion in bonus monies, or $379,000 each.

Funny old world.

Although Dimon is apparently arguing with Alistair Darling not to renew the tax on bankers’ bonuses, he may privately also see the few hundred million pounds of this going to the UK exchequer as money well spent.

If it lets JP Morgan and chums continue to rule the world, how could it not be?


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