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Gotta hand it to the guy. $2 billion dollar derivatives loss and most like more to come, 14% decrease in share value and an ousted CIO but the Shareholders voted and the man gets his $23 million.
Quote:
Even as he apologized for a $2 billion trading loss, shareholders approved JPMorgan Chase CEO Jamie Dimon's $23 million pay package Tuesday at the bank's annual meeting.
He's considered a financial markets genius. Compensation follows someone who is at the top of the game. That's how it works.
Let's not forget that Barack Obama loves the guy.
Quote:
“JPMorgan is one of the best-managed banks there is. Jamie Dimon, the head of it, is one of the smartest bankers we got and they still lost $2 billion and counting,” the president said.
Gotta hand it to the guy. $2 billion dollar derivatives loss and most like more to come, 14% decrease in share value and an ousted CIO but the Shareholders voted and the man gets his $23 million.
He's presided over a company with billion dollar loses. He should be fired in disgrace for his screw ups. But I suppose that's how it works to the Reps. If he were a 60k a year reading teacher you would no doubt be foaming at the mouth over his overcompensation.
Yep. They also paid back their bailout money fairly quickly. It's obvious the shareholders like him and have faith in him.
They never needed the bailout money. They took it with much reservation. It was political.
The best move he made was to admit to the "error" and not making excuses to cover it up. Had he, there would have been an uproar. By admitting it, people are basically "respecting" that admission and the matter will blow over. It made the news and will fade away. Who can argue with the truth and an admission of doing something wrong? $2 billion is nothing compared to the profits that JPMC sees annually. The difference is nobody took a hit JPMC took the hit - it was a company fund set aside for an "emergency".
They have let two of the top people go, and probably a few more.
He's presided over a company with billion dollar loses. He should be fired in disgrace for his screw ups. But I suppose that's how it works to the Reps. If he were a 60k a year reading teacher you would no doubt be foaming at the mouth over his overcompensation.
The gain outweights the loss. It was bank money, not investors money.
He's presided over a company with billion dollar loses. He should be fired in disgrace for his screw ups. But I suppose that's how it works to the Reps. If he were a 60k a year reading teacher you would no doubt be foaming at the mouth over his overcompensation.
Thats a lie, they did not have billion dollar losses, only ONE department had the loss, the other departments had profits and earned enough to cover the losses.. The bank still had a profit which is why the paychecks go out.
The gain outweights the loss. It was bank money, not investors money.
Quote:
Originally Posted by pghquest
Thats a lie, they did not have billion dollar losses, only ONE department had the loss, the other departments had profits and earned enough to cover the losses.. The bank still had a profit which is why the paychecks go out.
This is why conservatives lose me. He's lucky he's employed. His company screwed up while he was in charge. But you conservatives will still go around excusing his poor performance while throwing a hissy fit that a teacher or firefighter somewhere isn't starving to death.
This is why conservatives lose me. He's lucky he's employed. His company screwed up while he was in charge. But you conservatives will still go around excusing his poor performance while throwing a hissy fit that a teacher or firefighter somewhere isn't starving to death.
1. His EMPLOYERS decided not to fire him.
2. Sometimes crap happens at companies that are not the CEO's fault.
3. The guys decisions impact millions of people and he makes less money than most of the people on this list as well as most top pro-athletes.... The Celebrity 100 - Forbes.com
Funny to watch you guys try to butt into a private companies business decisions.
....and compare it to taxpayers comments about public institutions.
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