A Big, Bad Bet

Yesterday on ABC News, President Obama praised JP Morgan's Jamie Dimon as "one of the smartest bankers we got," adding, "and they still lost $2 billion and counting." Of course, on the heels of this very big bad bet, Obama and the DC bureaucrats will use this mess to argue that we need to add more regulation and pork to the already bloated bureaucracy. In my view, we do not need more DC oversight; instead, what the JP Morgan board should do is advise Mr. Dimon that his total comp for 2012 has been retroactively reduced to $1. That single and simple move would lay the groundwork for more reform than you might imagine.

Tony LoPinto is the Global Sector Leader of Korn/Ferry International's Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author's own.

T-MOBILE
Senior Manager, Corporate Real Estate
(BELLEVUE, WA) The senior manager, real estate position leads T-Mobile USA's regional planning, real estate and design/construction functions for its portfolio management project delivery. Sites include engineering critical facilities (telecom switch sites and data centers), office, and warehouse locations. This position directs and manages all regional planning, real estate portfolio management, transaction management, design/construction, and reports to the national director of real estate.