Delamaide: CEO Pay Shows Bank Boards Need Change

wochit business
February 18, 2014 AT 10:36 PM
Wall Street often seems to be on another planet and at no time more so than when a chief executive gets a 74% raise to $20 million in a year that his bank agrees to pay $23 billion in fines to settle charges of fraud and mismanagement. When the board of directors at JP Morgan Chase decided last month to boost the pay of Jamie Dimon from the measly $11.5 million he had received in the previous year, the rest of us could just shake our heads.