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. Patricia Bell

    His pay should be based on his performance! Paying a bonus to someone whose performance was abysmal serves only to reinforce the risky behavior that brought down the economy in the first place. Where are the regulations promised that would prevent these behaviors? Why are the "rules" of employment different for CEOs? In any other occupation a poor performance does not lead to a bonus. You are just let go, and good luck finding another job and feeding your family.

    May 15, 2012 at 12:21 pm | Report abuse |
    • panson

      Totally Agree!

      May 15, 2012 at 12:23 pm | Report abuse |
    • Peter Wynn

      Agree. Do these guys have annual objective goals like all of us who are in the work force?

      May 15, 2012 at 12:31 pm | Report abuse |
    • Peter Wynn

      What's even more stupid ....the people voted to give him the bonus.

      May 15, 2012 at 12:42 pm | Report abuse |
  2. Ken

    He should cut his pay package by percentage the stock went down.

    May 15, 2012 at 12:22 pm | Report abuse |
  3. Jamie Dimon

    I need that kind of money. Don't forget one of my suits cost more that most make in a year.

    May 15, 2012 at 12:22 pm | Report abuse |
  4. Bonnie

    When companies suffer losses, the first thing they do is deny raises to their employees. The next thing is lay them off, so it looks like the employees will be paying for Dimon's millions. That's how it works nowadays, doesn't it?

    May 15, 2012 at 12:22 pm | Report abuse |
  5. sf

    if he was just a regular employee, he would of just been given the boot and no severance whatsoever! i tell you, rich people are the devil! and so are the republican party who think these idiot companies need LESS regulation! what a joke!

    May 15, 2012 at 12:23 pm | Report abuse |
  6. ib1sage

    A cashier loses 10 dollars at close of the day and gets fired. A CEO loses 2 Billion and gets a 23 million pay package and the rich complain about welfare?????

    May 15, 2012 at 12:23 pm | Report abuse |
  7. Johnna

    Someone should take these CEOs offline permanently !!!

    May 15, 2012 at 12:24 pm | Report abuse |
  8. Rhich

    If I went to work and cost my company 2 billion dollars directly or in directly what do you think would happen to me?
    CEO should know what his employees are doing and at all times…. Moving, loosing, costing 2 billion dollars and just saying “whoops, sorry…” oh and while I’m at it I’m going to give myself a bonus?
    No wonder people are losing their houses, their jobs… schools get budget cuts everyone pays…. Except for Mr. CEO….. what makes him think he deserves 23 million? I’m not going to ask how he sleeps at night, because he just doesn’t care.

    May 15, 2012 at 12:24 pm | Report abuse |
  9. Don Belgard

    No way should Dimon get his 23 million pay package. Since when do we reward failure? If he worked for me he would have been fired. Causing a 2 billion dollar loss and driving the banks stock down 14% is absolutely unacceptable. What kind of company would keep a manager who so mishandled the company? Is this the person you would want on the Federal Reserve Board? If he lost this kind of money for his own bank would you want him to give advice to the Federal Reserve? All the more reason to regulate the banking industry and to have a completeand full audit of the Federal Reserve. Ridiculous-I would fire him and demand he resign his post on the Federal reserve Board. Having Jamie Dimon overseeing any banking is like the proverbial fox guarding thechicken coop. FAILURE 🙁

    May 15, 2012 at 12:24 pm | Report abuse |
  10. L YOung

    As long as there are people without health care, food, medicine , jobs, shelter, education.?....ABSOLUTELY NO ONE should deserve that kind of money....EVER !!!

    May 15, 2012 at 12:25 pm | Report abuse |
  11. Leslie Griffith

    If he had any humanity at all he would ax his own pay package.

    May 15, 2012 at 12:25 pm | Report abuse |
  12. Jerry Rittersdorf

    Is the Pope Catholic?

    May 15, 2012 at 12:26 pm | Report abuse |
  13. One Who Is Sick Of Free-Loaders

    This is disgusting.

    The only thing worse would be another stimulus package to give them back their losses!

    May 15, 2012 at 12:26 pm | Report abuse |
  14. Bob

    Nobody is worth $23 million. What happended to pay for performance? I wonder what he would receive if he made an extra $2 bilion with our money. I'm sure we wouldn't see it.

    May 15, 2012 at 12:27 pm | Report abuse |
  15. Nace

    No in fairness! It's like rewarding the commander for loosing. I have not seen anywhere, only with these "bunkers". If any body else any emplyee would do that lbet and loose would they be rewarded or reprimanded? Then of course they appoint each other on board and defend each other. Vote them or restrict them with law to follow like all the rest of people.

    May 15, 2012 at 12:27 pm | Report abuse |
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