It should not be surprising that cynicism is increasingly the U.S. national pastime, as we regularly observe top-dog bankers avoiding criminal prosecution for crimes they preside over, and we see prominent professionals—including psychiatrists—gaining career advancement after disgraceful actions.
First, a quick review of the recent career arc of Jamie Dimon, CEO of JPMorgan. In 2013 alone, JPMorgan paid out nearly $17 billion to settle claims with the federal government against JPMorgan’s sale of fraudulent mortgage-backed securities and other illegal practices. After settling with the government, Dimon, CEO of JPMorgan during the time these illegal practices took place, was rewarded by JPMorgan with a 74 percent pay raise, bringing his yearly compensation to $20 million.
As U.S. Senator Elizabeth Warren put it, “Now, you might think that presiding over activities that resulted in $17 billion in payouts for illegal conduct would hurt your case for a fat pay bump, but according to The New York Times, members of the JPMorgan board of directors thought that Jamie Dimon earned the raise, in part—and I’m quoting here—‘by acting as chief negotiator as JPMorgan worked out a string of banner government settlements.’ ”
Banker scoundrels aren’t the only big shots whose careers continue to ascend following reprehensible conduct. The following is a career update for some of the members of the “Psychiatry Hall of Shame,” including the group excoriated in…