Bad Banks or Bad Bankers
Chief Executive Jamie Dimon, of JP Morgan Chase, defended Executive Bonuses for Bank Employees at a hearing on Capitol Hill Yesterday. Mr. Dimon likened the hard work that is asked of some in the banking industry to that of Viet Nam. Mr. Dimon stated that assigning a tough job to someone calls for a bonus. This is the problem. Maybe bankers don't realize that people all over America do really hard work, day in and day out for just their salary. A salary that is a mere pittance of the extraordinary amounts of money that we have seen bandied about in the wake of the Federal Bailout and the revelations of the compensation being handed out to bankers who shuffle paper and create fake assets. Mr. Dimon and his ilk are out of sync with what it is like to work for a living, and what hard work encompasses. As Mr. Dimon and his kind sit in the back of their chauffeured limousines maybe they should reflect on the people's lives who built the road that they are riding on, these are the p...