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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

#FoodPorn, Circa 1600s: Then And Now, It Was More About Status Than Appetite

A new study of old masters finds that capturing and showing off decadent and expensive meals is a decidedly old-fashioned practice. Like today's Instagrammers, it was all about projecting an image.
NPR

#FoodPorn, Circa 1600s: Then And Now, It Was More About Status Than Appetite

A new study of old masters finds that capturing and showing off decadent and expensive meals is a decidedly old-fashioned practice. Like today's Instagrammers, it was all about projecting an image.
WAMU 88.5

Virginia's Own Tim Kaine Takes The Democratic Veepstakes

We consider Democratic Sen. Tim Kaine's regional ties and the pros and cons of his vice presidential candidacy as the DNC gets underway.

NPR

Verizon Buys Yahoo For $4.8 Billion In Cash, Touting Gains In Mobile

The deal comes more than a year after Verizon paid $4.4 billion to acquire AOL; as part of Verizon, Yahoo will join the same division AOL currently occupies.

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