JPMorgan's Dimon gets his $23 million pay package

[boilermaker55]

NEW YORK (CNNMoney) -- 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.

The meeting comes just days after the bank disclosed the massive trading loss, an event that led to the departure of its chief investment officer and forced its CEO to repeatedly apologize for the bank's actions.

And the teaparty wonders about wealth redistribution.

 

[Claudette]

JP Morgan is paying the loss and Dimons pay.

Its not taxpayer money so who give a shit?? Not me.

 

[boilermaker55]

JP Morgan is paying the loss and Dimons pay.

Its not taxpayer money so who give a shit?? Not me.

You see you don't even get any of the purpose of the way they handle things. It has nothing to do with taxpayers. Try understanding the context of the post.

 

[starcraftzzz]

Amazing and republicans tel us CEO's deserve there high pay

 

[Salt Jones]

Wow! He'd only be number 16 on this list.

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[Flopper]

JP Morgan is paying the loss and Dimons pay.

Its not taxpayer money so who give a shit?? Not me.

Not yet. But if JP's next fuck up is 5 billion or 10 billion, then you should be concerned. If J P Morgan fails, it would certainly bring down other major banks. Then it becomes a house cards with Uncle Sam footing another bailout.

The focus should not be on too big to fail but rather on too big to manage. JP Morgan has become the largest bank in the US and the largest corporation in the world with revenues that exceed the GDP of 35% of all nations on earth. The fate of this financial giant and much of the financial community depends on their ability to manage the risk of holding and trading highly speculative securities which seems to be getting harder and harder as the company grows.