March 17, 2008
Value for money?
Jimmy Cayne, the cigar-chomping, bridge & golf loving boss of Bear Sterns, had a pay packet of $34m last year.
The US bank, which was worth $140bn last summer, has just been bought by JP Morgan for $236m in a desperate rescue mission.
British MPs are getting a lot of stick right now for their remuneration. By my rough calculation you could employ 300 of them for the price of one Mr Cayne (pictured below).
That isn’t going to avert the mother of all rows, however, when MPs’ pay comes to a head in July.
We revealed in Saturday’s paper that members may be asked to vote on a 50 per cent pay rise which would take their salaries to £94,000 in return for foresaking their expenses.
In case you missed the story, here it is.
