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After the financial crisis, the executive’s compensation was not as huge as in the video. The highest paid executive in financial industry in 2012 was Kenneth Chenault from American Express. James Gorman, which is the chief executive of Morgan Stanley, got paid $10.4 million in 2012.

The JPMorgan’s chief executive-Jamie Dimon got paid by 20 million dollars for 2013 which is 74% more than 2012. However, JPMorgan narrowly escaped a criminal guilty plea and paid more than 20 billion in regulatory fines. The board seemed to think that Mr. Dimon deserves credit for handling all these regulatory matters. The board thought Mr. Dimon deserved credit for navigating the bank through a treacherous regulatory and political environment while continuing to improve the bank’s financial performance. But the board somehow choose to forget he got the company into trouble in the first place.

Mr. Raymond, the chairman of compensation and management development committee of JPMorgan said that the compensation committee went through an exhaustive process to determine the right level and the board considered the likely negative reaction. When we take a look to Mr. Raymond’s old job, the 20 million is just a piece of cake. Mr. Raymond is the former long-serving chairman and chief executive of Exxon Mobil. While he was at Exxon Mobil, his compensation was often criticized as excessive, as was his retirement package, valued at nearly 400 million.

Wall Street executives are still being lavishly rewarded despite behavior that plunged the country into a financial crisis and recession.

However, after the financial crisis of 2008, regulators around the world decided that the banks they oversaw needed to remove incentives that fueled dangerous levels of short-term risk-taking. That meant doing away with big cash bonuses that rewarded bankers upfront, even though their businesses might…...

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