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. Fat o' the land

    What do people do with that much money made in 1 year? It's all about perception of a company and the health of a company, that is why ceo's make so much more than they should. I don't agree with his bloated paycheck.

    May 15, 2012 at 1:28 pm | Report abuse |
  2. Barbara

    Appalling!!!! Tell me how to boycott JP Morgan Chase for life!

    May 15, 2012 at 1:28 pm | Report abuse |
  3. Tom

    Any normal person in a normal wok environment would have gotten their walking papers without any consideration at all. The very people who he is apologizing too aren't the ones who will fire him, the board does. The board of JP Morgan won't fire him because he is one of them and it would call into question their judgement. Holy crap – 2 billion lost, (not including stock losses for JP Morgan) and an apology is all that is required to keep this cushy job of privilege! Wow!!! The rules really are different up there in that exclusive air of Wall St. Boardrooms. When will people realize, that the people who are the CEO's of these banks, the boardroom members and their crony friends in government aren't any smarter or better that they are. Mr. Dimon should be fired, as well as many of the old board members at JP Morgan as possible. These people, (Dimon & the boardmembers of JP Morgan) aren't smarter or better able to conduct business than anybody else off of the street. You fail – loose your job like everyone else without the golden parachute. If the the board members and Mr. Dimon knew this from the get go, things would be considerably different in the world of Wall St. finance.

    May 15, 2012 at 1:29 pm | Report abuse |
  4. Cathy

    I dont invest in JPMorgan, dont give a dam if shareholders loose their money. Here is a lesson to those who invest like crazy in the market. You don't make money, the brockers do. Allways. Market is a risky business.

    May 15, 2012 at 1:30 pm | Report abuse |
    • steve

      you are an investor you just don't know it. CHASE IS A FEDERALLY INSURED BANK!!!!!

      May 15, 2012 at 1:34 pm | Report abuse |
  5. No you didn't.

    This is what happens when you have a bunch of unscrupulous people growing up playing Monopoly with everyone Else's money. Sounds like Romney

    May 15, 2012 at 1:30 pm | Report abuse |
  6. werthrough

    ABSOLUTELY NOT!!

    May 15, 2012 at 1:30 pm | Report abuse |
  7. Fed UP

    Not only no, but Hell No!

    May 15, 2012 at 1:30 pm | Report abuse |
  8. abbydelabbey

    This is what is seriously wrong - a major muck up and he gets a huge salary and keeps his job ...
    Keep voting GOP and this heifer dust will go on and on and keep getting worse and worse...

    the 1% only care about and protect the 1% -

    Uncle Karl was right....

    May 15, 2012 at 1:31 pm | Report abuse |
  9. ART

    I cannot beleive after what we just went thru and thanks to our President who has dug us out of that mess that the banker are back at there old tricks. It seems to me that Chase is more like a casino than a bank at this moment.

    May 15, 2012 at 1:31 pm | Report abuse |
  10. hypatia

    He deserves a week in the stocks in Times Square and 23M worth of tomatoes to throw at him.

    May 15, 2012 at 1:32 pm | Report abuse |
  11. steve

    why not! let the un regulated free markets reign baby! ride em cowboy! don't worry about the fact that Chase is a federally insured (tax payers) bank. let em do what they want. drive the economy into the crapper again. Lobbyist rule forever!!! Citizens United is now the law of the land...............woohoo. write me another check boys!

    May 15, 2012 at 1:32 pm | Report abuse |
  12. Thomas S

    YES, Dimon has done great things for Chase! As for this so called $2 Billion, it happens and they can afford!

    May 15, 2012 at 1:32 pm | Report abuse |
  13. ivnprt

    He deserves ten times 23 million for the magical performance. With his sleight of hand technique no illusionist exists

    today that can top him. The President, Congress,Federal Reserve,DOJ,IRS,SEC, Wall Street are all mesmerized

    by his showmanship. Houdini couldn't come close to this trick

    May 15, 2012 at 1:33 pm | Report abuse |
  14. Old Wilkes Barrre Barrels

    My initial thought was to say NO but after a few seconds thought I decided to change that: NOT NO... HELL NO! In todays language; you blew it dude. Your watch. Your plan. Your responsibility.

    May 15, 2012 at 1:33 pm | Report abuse |
  15. FedUpwithLA

    $23 million is also called "chump change" to these people. Too bad my mortgage is with them. Now I know where my hard-earned money goes to . . .

    May 15, 2012 at 1:35 pm | Report abuse |
    • Harvey

      First off, having a mortgage with JPM is meaningless. Even if they lost the bank. Your mortgage would just be taken ver by someone ese. So relax. Second- they are taking a bigger risk on you than you are taking on them. Third, you decided where to place you hard earned money. If you knew how to handle money, this morning you would have bought some JPM $37 May 19 options for 7 cents and more than doubled your moey by noon. Why? Because those who are not financially literate heard $2bil trade loss and reactd without checking out what it really means, like you and most the commenters here, and bailed out and lost money and set up today to make money because the headlines are more sensational than what actually happened. You guys read the news, getplayed by the news and people like me take advantage of that play and double our money in four hours. JPM will have a profit after this trade of greater than 4bil after taxes for this one quarter. This guy handled the situation, is taking responsibility for it and righting the ship while still turning a profit. As the market is showing, this guy performed and everyone here is again being played with a piece that gives only the piece to drive excitement. Learn...learn...learn and get beyond the hype and you might find you can cn do retty well for yourself. Good luck.

      May 15, 2012 at 1:51 pm | Report abuse |
    • SK

      DON'T THINK SO! Not in this economy! It's obscene.

      May 15, 2012 at 1:56 pm | Report abuse |
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