CEO Blues

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Autocratic forces are ascendant in America. But truth-telling independent media is one remaining bulwark against the unrestrained exercise of power. At a time when billionaire owners of corporate media are making accommodations to political leaders, our nonprofit newsroom cannot be bought or broken. Please stand with us.

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The Wall Street Journal reports that CEO pay was down a whopping 3.4% last year. But wait!

CEO compensation decreased more sharply at banks and brokerages, long the source of some of the biggest paychecks. Median annual cash compensation for CEOs in the financial industry fell 43%, to $976,000. Total direct compensation fell 14.2%, to a median $7.6 million.

So that’s what happens when you destroy the global financial system: your pay goes down 14% to a mere $7.6 million per year. I guess we showed them, didn’t we?