WAMC political observer Dr. Alan Chartock talks about the Red Sox taking Game 1 of the World Series, U.S. allies growing angry over allegations of American spying, JPMorgan's $13 billion settlement with U.S. authorities over shady investment practices and a special visitor to Buffalo, New York.
U.S. Senator Scott Brown is urging JPMorgan Chase CEO Jamie Dimon to take back bonuses and incentive pay from those involved in risky trading that led to a $2 billion loss. WAMC’s Lucas Willard reports…
Brown said Wednesday that taking back the bonuses, including any money Dimon might have received, would demonstrate the bank is serious about fixing the mistakes that led up to the loss.
Brown's comments came as Dimon told Congress that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company.