Politics and Money

[properlynumb]

What pisses me off is the bonus these managers get.
We should all be pissed by the taxpayer support that these banks enjoy....
But, PLEASE!
Using other peoples money, Ina Drew (and all of the banking managers) enjoy the benefits of capitalization without any risk!



"Drew, 55, was awarded about $29 million in total compensation for 2010 and 2011, according to JPMorgan’s regulatory filings. She retired May 14 with about $57.5 million in stock, pension and other pay, according to bank disclosures and estimates from consulting firm Meridian Compensation Partners LLC. About $21.5 million of that money, based on the May 14 closing price, would have been automatically forfeited if she had been fired for cause."
http://www.bloomberg.com/news/2012-07-13/dimon-says-ina-drew-offered-to-return-2-years-of-compensation.html

Mrs. Drew will suffer a claw back.
What is important is that those profits that may have been made if the deal proved productive,
were not shared with the American population that supported this bank.

So, it seems:
Shame me if we fail,
Bless me if we succeed.

That may be relevant only when Mrs. Drew used her own capital.
Mr. Dimon is the head of JP Morgan and should be fired.
The complexity of the bank is beyond his control.