The Problem with Bankers’ Pay
By James Kwak
From today’s WSJ:
“At J.P. Morgan, the biggest U.S. bank by assets, directors are considering lower 2012 bonuses for Chief Executive James Dimon and other top executives in the wake of a multibillion-dollar trading disaster, said people close to the discussions. But they also are grappling with the question of how to do that without drastically reducing the executives’ take-home pay.”
Huh? Isn’t reducing their take-home pay the point?
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