JP Morgan/Chase CEO Jamie Dimon

Do you remember the 2008 Republican/Bush/Paulson $700 billion rescue plan (aka bailout) so banks could start lending again?  You will be glad to know that Chase Bank, which received $25 billion dollars, the largest amount given to any bank, is paying  its CEO in “salary, bonus and stock and options from grants . . .  around $42 million” according to Reuters. His salary

jumped nearly 1,500 percent to $20.8 million in 2010 from $1.3 million a year earlier, based on the U.S. Securities and Exchange Commission’s compensation formula, a regulatory filing showed.

The ratio between Dimon’s salary and your pay is 418 to 1. The ratio between his total package of $42 million and $49,777 is 844 to 1.

Advertisements