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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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No, he deserves to be fired and his employer needs to repay all of those innocent persons for his carelessness. Why does our society continue to reward bad behavior, in sports, business, entertainment, politics, etc.? Like many others, Mr. Dimon is a product of where and how we live. Very sad.
THEY USED THE BANKS MONEY NOT THE CUSTOMERS PLEASE INFORM YOURSELF BEFORE MAKING ILL INFORMED COMMENTS.
It was JPMorgan's money. Dont you get that. It was not depositor's money! Do you understand how companies work or do you believe everything you read on CNN?
It's JPM's money, they can do whatever they want with it.
No way....I used to work for JPMC...they're ruthless...soooo glad I'm out of there...
people u are talking about bankers they only think about how much money they can make for themselves and f - the rest of the world
Pay like this is why America is in such bad shape. We have too many unemployed people and companies are not hiring, but then we have CEO's paid in the millions. Movie stars makes millions per movie, but then we are at least entertained, but someone to make 23 million as a CEO, what a joke!
What is this, kindergarten? Since when does life give any of us what we deserve?
What he deserves is irrelevant. JP Morgan can set up whatever sort of salary package they like for their CEO, just like the Angels can choose to pay Albert Pujols $25+ million a year. If he turns out to be incompetent (or if Pujols manages to produce 1 HR a month), well, that's their business.
What sort of message would you like to send? That the United State is some sort of banana republic that no longer respects the ownership of private property?
well said!
I realize the bank made billions, but that does not justify the board giving a ceo that much money. What are they afraid of? Do they think he will steal some of the profits? It has also been stated that the government's new limitations are preventing them from making loans. Last I heard that was what a bank was for and if they are making billions, then they are the ones cutting into their own profits. It does not appear they are hurting to me. After a loss of 2 billion, he should have been gone too.
I'd be curious to see how much money everyone makes that is complaining about JD payout.... Maybe YOU don't deserve the pay youre receiving right now.. PIKERS!
23 MILLION TIMES NO!
RU kidding? He should not only NOT get to keep "his" $23 million – he should be thrown in jail. Disgusting.
Nobody deserves 23 million a year..
"When one makes 20 million, 10,000 people loose. What keeps that one from swallowing a shotgun?" – NOFX
In my view there is nothing anyone can do to earn more than a few million in any year. This is just sick.
latuya83 what world do you live in how much money did the gov lend at .25 % not to mention tarp
Yes.
Some people make TOO MUCH money. At what point do we say enough? Pass this money to the low people in the company, they will spend it and help the economy – remberber Henry Ford? He paid his people higher than standard so they would buy what they made. Not to mention that I would lose my job if I made mistakes like that, not get a huge paycheck!