Dimon says there’s no point in slashing CEO pay

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JPMorgan CEO Jamie Dimon says it’s ok that CEOs get paid way more than their average employees, and that cutting down on executive compensation wouldn’t help eliminate income inequality.

That’s according to Bloomberg’s Claire Boston and Hugh Son, who wrote up comments from Dimon at a Detroit event Thursday.

“It is true that income inequality has kind of gotten worse,” Dimon said, but “you can take the compensation of every CEO in America and make it zero and it wouldn’t put a dent into it. What really matters is growth.”

Read on.

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