TITLE

JPM Chase, 2 Others Cut Pay on Political Pressure

PUB. DATE
January 2010
SOURCE
American Banker;1/26/2010, Vol. 175 Issue 13, p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that the financial services companies JPMorgan Chase & Co., Goldman Sachs Group Inc., and Morgan Stanley reduced their spending on investment banker wages from 44.7 billion dollars in 2007 to 39.9 billion dollars in 2009. The institutions have been criticized by U.S. politicians, including President Barack Obama, for offering inflated bonuses despite the global financial crisis.
ACCESSION #
47728912

 

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