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JPMorgan Will Move To 'Claw Back' Millions From Execs Who Bungled Billions

JPMorgan Chase CEO Jamie Dimon predicted this would happen: The bank "plans to reclaim millions of dollars in stock from executives at the center of the trading blunder that shocked Wall Street," The Wall Street Journal reports.

According to the Journal:

"The nation's biggest bank is expected to claw back compensation from individuals including Ina Drew, who ran the company's Chief Investment Office, or CIO, according to people familiar with the bank's plans."

A clawback, one of the financial world's best words in our opinion, is "the recovery of money which has been already paid to a person or company, typically because that payment should not have been made for legal (or occasionally moral) reasons." (Cambridge University Press)

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

Franzen's Latest Novel: An Ambitious But Tarnished 'Purity'

Jonathan Franzen weaves together a cavalcade of stories and characters in his latest novel. Critic Maureen Corrigan says that despite its breadth, Purity fails to "emotionally move the reader."
WAMU 88.5

The Democracy Of The Diner (Rebroadcast)

Whether the decor is faux '50s silver and neon or authentic greasy spoon, diners are classic Americana, down to the familiar menu items. Rich, poor, black, white--all rub shoulders in the vinyl booths and at formica counters. We explore the enduring appeal and nostalgia of the diner.

NPR

Is Marco Rubio The Candidate Republicans Date But Don't Marry?

Polls suggest GOP primary voters really like Rubio, but when it comes to casting a vote they seem less sure. Time might tell whether he can turn his paper appeal into real appeal.
WAMU 88.5

Environmental Outlook: How To Build Smarter Transportation And More Livable Cities

A new report says traffic in the U.S. is worse than it's been in years. But some say there are reasons to be optimistic. For this month's Environmental Outlook: How revitalized urban centers and new modes of transportation are changing how we get around our cities.

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