The harsh penalty for failure in the banking industry....

[kpete]

CEO Jamie Dimon said Ms. Drew's "vast contributions to our company should not be overshadowed by these events."

JPMorgan, the largest bank in the United States, is seeking to minimize the damage from the trading mistake, which Mr. Dimon has conceded will complicate the efforts of banks to fight certain regulatory changes ...

Ms. Drew oversaw the division of the bank responsible for the loss. She was paid $15.5 million last year and almost $16 million in 2010, making her one of the highest-paid officials at JPMorgan, according to a regulatory filing.

http://www.crainsnewyork.com/article/20120514/FINANCE/120519953#ixzz1usQFyCXU

"NEW YORK (CNNMoney) -- JPMorgan Chase announced Monday that Ina Drew, the firm's chief investment officer, has left the bank after revelations of a $2 billion loss sustained over the past six weeks....

Drew is in line to receive $14.7 million severance in the form of stock,
$2.6 million in pension benefits and almost $10 million in deferred
compensation"

http://money.cnn.com/2012/05/14/news/companies/jpmorgan-drew-retires/index.htm

[lastlib]

1. I've always said I wanted one of those jobs....

...where they pay you millions of $$ to screw up the company and then quit!

[gratuitous]

2. But the cashier at McDonald's gets fired for handing back a dollar too much in change

Who has the more responsible position?

[1StrongBlackMan]

3. With NO severance ...

NO stocks ... NO deferred comp ...

And the company's promise to contest any Unemployment Compensation claim.

[gratuitous]

4. Good points

I forgot about the extra little insults, like denial of unemployment benefits. And, of course, when the broke and desperate cashier applies for another job, her former employer will happily torpedo every application by giving her a bad reference. In the world of high finance, a spectacular flame-out failure at one firm is simply an entrée into the next sinecure.

[DCKit]

5. Who could have seen THAT coming?

This shit has got to stop.

Do they really believe that those of us who work for a living are going to accept this as "normal"?

[onethatcares]

6. how much "harder" did she have to work for that?

it's a fucking disgrace that these people can take that much money and deferred bullshit for betting with investors money.