After JP Morgan had to pay billions of dollars in fines and restitution, the board of directors took decisive action, and doubled JP Morgan CEO’ Jamie Dimon’s salary.

I guess in finance, everyone gets a gold star, kind of like kindergarten, only with less accountability:

JP Morgan Chase has almost doubled chairman and CEO Jamie Dimon’s pay for 2013, rewarding the executive for settling probes against the bank.

Dimon will receive total compensation of $20m in 2013, consisting of $18.5m in stock options and a base salary of $1.5m, the bank said in a statement Friday.

That compares with total compensation of $11.5m a year earlier, down from $23m in each of the previous two years.

The bank says it took several factors into account when deciding on Dimon’s pay, including the “sustained long-term performance” of the bank, gains in market share and customer satisfaction as well as his handling of the legal issues facing the lender.

Seriously, we need to start jailing these people post haste.