CEOs defend compensation, call for new regulation
(NEWSER) - “We’re lending,” bank executives told Congress this morning, as CEOs including Jamie Dimon, Ken Lewis, and Vikram Pandit testified before the House Financial Services Committee. They also defended the outrage-inducing (but, they stressed, much reduced) bonuses they handed out, according to their prepared testimony. “Our employees worked harder than ever,” said JPMorgan’s Dimon, who gave up his own bonuses. “The compensation we paid them was appropriate.” More»
