JPMorgan (NYSE:JPM) is coughing up some $920 million in fines for the London Whale debacle. The SEC continues to push on high and exorbitant CEO salaries. At what point will the regulators of financial behaviour decide that the CEO with record-breaking fines should be subject to a suitability review.
Jamie Dimon and JPMorgan will hold an everlasting card in the Financial Trivia Question. “Who had to pay the biggest fine for financial screw-ups in all of history.”
Checking with Guinness World Book of Records to see if a new plateau has been reached.
You think this is the last one? Because no one has the stomach for more governance problems from JPMorgan. I don’t care if they spend $200 million or more on risk and compliance models. It’s all about the leadership.
Can you imagine the memoirs if he writes them? Guaranteed best seller but the editing will be a bitch.
George Gutowski writes from a caveat emptor perspective. Follow him on Twitter @financialskepti