Wall Street’s most popular CEO may no longer be the best-paid, according to an internal report obtained by the Wall Street Journal, in which J.P. Morgan Chase’s board considers whether to dock Jamie Dimon’s bonus. Who’s to blame? Bruno Iksil, better known as the “London Whale.” The board has already agreed to slice and dice former CFO Douglas Braunstein’s pay package over the $6.2 billion hole the the Whale left behind during last year’s Libor-rigging scandal. Dimon, however, has far more on the line; last year he took home $23.1 million, considerably more than the next best-paid Master of the Universe. Looks like single digit millions will have to do this year.
Acting Secretary of Defense Patrick Shanahan, who has done a wonderful job, has decided not to go forward with his confirmation process so that he can devote more time to his family….
I thank Pat for his outstanding service and will be naming Secretary of the Army, Mark Esper, to be the new Acting Secretary of Defense. I know Mark, and have no doubt he will do a fantastic job!