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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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Is this guy really worth over 11,000 per hour?
how ridiculous
No one deserves this kind of money no matter what the job or position is. He makes 23 million when some middle class
worker make $9 an hour. He and everyone involved should be ashamed.
It happens all the time and this is actually in the middle range for a CEO like this. Go look at hedge fund managers or other wall street crooks.
They don't do anything but skim off the top. The whole industry should be outlawed. They don't produce a single thing.
The unconscionable act has not happened yet. That will come when they attempt to recoup the losses off the backs of the people no one care for and who have no voice: the rank-and-file employees. Reductions in force (layoffs) will commence soon. That is the tragedy.
May be Pandit should change his name to Dimon to get his package approved....
At least he is working and contributing to America. What about half the people on here commenting that live off the govt teet. You idiots on here get your bonus from the govt every month!!!
Really JJ? Really?
What about those of us who are contributing? I work 40+ hours a week for a company that helps develop treatments for cancer and make less than $40,000 a year. I don't take a dime from the government for food or housing or unemployment. Will my opinion matter to you? I can't imagine anyone DESERVING $23 million unless they do something extraordinary like curing canceror AIDS or finding a source of free unlimited renewable energy or negotiating a lasting world peace, etc. All this idiot did is sit on a board that is supposed to regulate his own industry and preside over a company that just lost 2 billion dollars AFTER bringing the economy to it's knees in 2008 by making similarly idiotic decisions.
What planet are you living on JJ? Down here on Earth people are hurting because of jerks like this one.
We've become a society where we reward failure at it's highest levels!
People are fired for bad credit scores yet he loses 2 bil. and he gets his raise?
Come on America, we're better than that!
Since the FDIC litterally handed WA MU – what was the largest thrift in the U.S. – to Chase, they thought they had won big and no doubt must have figured they were on a roll. Why not gamble with 2B when they had just won WA MU at firesale prices? I personally owned WA MU stock and lost it all when the bank was given to Chase. As far as I am concerned, Chase got what they deserved. Too bad they didn't lose more.....
Unacceptable, regardless of the loss, NO ONE person deserves so much money in one year, especially when tens of millions are out of work and ALL of thise Wall Street firms are laying people off due to budget issues and or money problems but all the top line folks...... receive 10's of millions in salary/comp annually..... like the woman forced out for the 2 billion blunder was at the 15 million mark annually..... just silly and sad...... like movie stars, sports players no need for 10's of millions in salary when you could actually employee 10's of thousands of out of work people and still live like kings on a 10th of your annual salaries. America is all about living beyond it's means and or GREED especially at the top and to F with everyone else..... americans use to help one another not this day and age though, sad.
No reason why any person should have a 23 million dollar salary. This is what wrong with our country. The top 1% continue to hoard wealth off the backs of the Middle Class.
Two billions is not enough money for a genious to loose his job. I do not understand what they are thinking
fire him
If the company I work for lost 2 billion ( that's with a B) some body would lose their job, and it would probably start @ the top!
No, as a matter of fact hell no! No one deserves that kind of payday for gambling with money we guarantee.
Does he "deserve" 23 million? hahahahaha
This is disgusting. Our country has so many people out of work and on food stamps now because of big banks and bad business and he sits there like a fat pig after overindulging himself making that kind of crazy money. I could puke.