Open Thread: Does JPMorgan CEO Dimon deserve $23 million?
Jamie Dimon is the chief executive officer of JPMorgan Chase.
May 15th, 2012
10:03 AM ET

Open Thread: Does JPMorgan CEO Dimon deserve $23 million?

Jamie Dimon, the CEO of the nation's largest bank, JPMorgan, went before before shareholders at the company's annual meeting Tuesday and had his $23 million pay package approved, CNNMoney.com reports.

The meeting came  just days after the bank disclosed a $2 billion trading loss, an event that led to the departure of its chief investment officer and forced its CEO to apologize for what he called "a terrible mistake."

Dimon, who also serves as the bank's chairman, faced shareholders who have seen the company's stock decline by more than 14% over the previous five trading sessions.

In the wake of the 2008 financial crisis, shareholders have looked upon the nation's largest banks with increased scrutiny, and have often used shareholder meetings to push an agenda of reform.

Read about how JPMorgan made its multi-billion dollar blunder, and how Dimon gets $23 million for 2011 and bragging rights and then let us know in the comments section how you feel about the CEO's $23 million compensation package.

Do you think Dimon should get that kind of compensation? Does he deserve the pay considering how much his company profits or does a message need to be sent to major bank executives? Let us know below and we may feature your comments on CNN.com

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Filed under: Business • Economy • Finance
soundoff (871 Responses)
  1. alicedagoon

    Stupid question deserves a stoopid answer.....Yes he deserves it

    May 15, 2012 at 3:13 pm | Report abuse | Reply
  2. Claudia, Houston, Tx

    Of course he deserves $23M, he did exactly what he was hired to do, steal money for profit.

    May 15, 2012 at 3:17 pm | Report abuse | Reply
    • Bill

      Be specific. How is he "stealing" money?

      May 15, 2012 at 3:20 pm | Report abuse |
  3. Don

    His salary should be confiscated and Given to the POOR for their benefit

    May 15, 2012 at 3:17 pm | Report abuse | Reply
    • KF

      While we are at it I'd like to confiscate your salary for my benefit!

      May 15, 2012 at 3:25 pm | Report abuse |
  4. Wow

    Not a single cent belonged to the people banking with JPM. It was 100% JPM $ (e.g., the fees that they charge you – regardless if they bet that or distribute it to starving children in Africa).

    May 15, 2012 at 3:17 pm | Report abuse | Reply
    • Secret {Police

      Even if its all JP morgan's money, what if all these trades resulted in even bigger losses and caused chaos in the markets and even possibly to another collapse. Do they cover all the other losses? or just file ch 11 and try to minimize their own losses? They basically get to borrow money from the fed for practically nothing and buy T bills from the gov't for a profit...is that the money ur talking bout them playing around with?

      May 16, 2012 at 3:50 pm | Report abuse |
  5. penny

    No.

    May 15, 2012 at 3:17 pm | Report abuse | Reply
  6. John

    What I saw here, does it matter. Rich get richer and that to at the expense of others. I just wasted a min typing this.

    May 15, 2012 at 3:17 pm | Report abuse | Reply
  7. sapper4u

    Whether or not if he deserves the $23 million he is going to get it! Every day we hear about FEDS passing or trying to pass legislation to stop these knuckle head because they just do not get it nor will they ever get it!! And all the American people can do is say damn, another CEO getting over.

    May 15, 2012 at 3:18 pm | Report abuse | Reply
  8. Frank A

    In my opinion, no. However, if that is the desire of the shareholders, then so be it.

    May 15, 2012 at 3:18 pm | Report abuse | Reply
  9. Bill

    No CEO deserves that much since their contribution to the corporation is not that significant. There are thousands of employees at Chase, and I have a feeling they had something to do with the stability of the bank, as well. That being said, it is ultimately up to the shareholders if they want to put up with it.

    May 15, 2012 at 3:19 pm | Report abuse | Reply
  10. Sue

    They just posted a huge loss, not to mention it's a financial blunder. Why are CEOs rewarded with indecently high bonuses for failure?

    May 15, 2012 at 3:19 pm | Report abuse | Reply
  11. GEO

    Left wing nut here! But if these clowns on tv and the media can make close to this much money, why not a man who runs a 2-3 trillion dollar business!

    May 15, 2012 at 3:21 pm | Report abuse | Reply
  12. Ann

    I would think anyone who loses that much money should be A) investigated B)Fired without recompense.
    We have a very backward society anymore that rewards failures.

    May 15, 2012 at 3:21 pm | Report abuse | Reply
  13. Steve

    They (shareholders) gave him a vote of confidence therefore; he gets to keep the 23 million. Unimaginable that this is still happening, if the U.S were a third world country we’d have a civil war by now. Rich=Greed

    May 15, 2012 at 3:22 pm | Report abuse | Reply
  14. Pliny

    Can't you see? The 1% do not care what you think! They will take whatever they want. They laugh at you and your poverty.

    May 15, 2012 at 3:22 pm | Report abuse | Reply
  15. johnmenacherjr

    Well here's my take 1 stop insuring these transactions plain and simple pull that from any backing they want this incredibly dumb stuff they get the risk cancel their fed insurance 2 No one I can think of can do anything worth that money except maybe the Creator period. get your a**es out off your heads and get with it my god this is so totally ridiculous just stupid!

    May 15, 2012 at 3:22 pm | Report abuse | Reply
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