"Nor do fat CEO pay packages reward investors. J.P. Morgan Chase Jamie Dimon, who has fought most successfully against effective regulatory reforms, pocketed more than $20 million in pay last year. His bank’s shares have lost 14.9 per cent of their value in the past decade.
"By contrast, Robert Wilmers, longtime CEO of Buffalo-based regional bank M&T Bank Corp., a traditional commercial bank, was paid $2 million last year. This quiet crusader for meaningful bank reform has rewarded M&T shareholders with a 12.6 per cent gain over the past 10 years.
"As Wilmers noted in M&T’s 2010 CEO letter to shareholders, the pay of America’s highest-paid bank CEOs now equals 516 times average U.S. household income. That figure was 97 times in 1989."
Full article: Olive: American recovery banking on recklessness.
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