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. Wow

    How can you the id*iots on here say he isn't worth a penny but blame him for a $2b loss that someone 27 managers removed was responsible for? He is either responsible for a multi-billion dollar global bank – and should get paid as such – or he isn't. There is no grey area where you get to have his cake and eat it too.

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

      even he admits he totally screwed up?? how is that someone else's fault

      May 15, 2012 at 3:25 pm | Report abuse |
    • Sue

      You do not have to be "jealous" to think this is wrong, so very wrong for so many reasons. Where does it end ? Capitalism is going to be the end of us in the USA. We are heading for, and almost at, the limits. Bankers, sports figures....whoever...NO ONE IS WORTH THAT AMOUNT OF MONEY....PERIOD.

      May 15, 2012 at 3:36 pm | Report abuse |
  2. nathaniel

    All games have rules, even the game of life. The alternative is anarchy, and people would simply kill each other for what they wanted. You want a system where the government has no control over your life? Go to Somalia and see how well it's working for them. The role of Government is to define and enforce these rules in a way that best benefits society. There are certainly good arguments to made, both for and against individuals amassing such a disproportionate amount of wealth, but these conservative fundamentalist ideas of "You work hard, you deserve what you get, no one should tell me otherwise" does not advance this very important discourse.

    May 15, 2012 at 3:23 pm | Report abuse |
  3. Osro

    yes he should definitely receive this compensation solely because it is in line with his contract and the shareholders approved this amount. Welcome to capitalism, let me be the first to inform you that your opinion is 100% irrelevant when it comes to this situation. Don't like it? Well that doesn't matter either. Jealous of his pay out? Yeah, me too, unfortunately that is also completely irrelevant. What rights does Jamie Dimon have to weigh in on your salary? Unless you work for him, none so why should you get to weigh in on his? If you don't think he should get this money you either don't understand capitalism, or you're basing your opinion on your emotions which are rooted in jealousy. Either way- guess what, your opinion is STILL irrelevant when it comes to this situation.

    May 15, 2012 at 3:23 pm | Report abuse |
  4. tremendousbill

    he has earned every penny-with the loss chase still has profits of 4 billion this year

    May 15, 2012 at 3:25 pm | Report abuse |
  5. Mike

    What happened to paid for performance?

    May 15, 2012 at 3:26 pm | Report abuse |
  6. Jonathan

    John,

    Stop acting like we're all ignorant children who live in Neverland. We understand that the shareholders were idiots and approved his compensation. What we don't like is that we had to bail out Wall Street companies for mismanagement (plain and simple) and here's a prime example of what's wrong with them. We are expressing our thoughts using our rights as citizens.

    May 15, 2012 at 3:26 pm | Report abuse |
    • Pat

      and what was the return on that bailout for the government?

      May 16, 2012 at 8:37 am | Report abuse |
  7. Surya Rangavajhala

    The buck should stop now. It is horrible these CEO are looting while everybody else is asked to pay.

    May 15, 2012 at 3:27 pm | Report abuse |
  8. Willie

    You have to be a CEO big shot to be rewarded that handsomely for a job not well done.

    The rest of us get sacked. That's exactly what is wrong and goes for government, too. No matter how badly they do, they still walk away with a pension for life including excellent health insurance.

    The rest of us might get food stamps once everything is gone.

    May 15, 2012 at 3:27 pm | Report abuse |
  9. Steve

    Buy Gold, Buy Silver. This is the tip of the Iceberg. Save yourself from these corrupt bankers, and politicians.

    May 15, 2012 at 3:28 pm | Report abuse |
  10. Dr. Don

    The "Peter Principle" rules from the Board rooms and ballot boxes!!!

    May 15, 2012 at 3:28 pm | Report abuse |
  11. Greg

    If I screw up I get fired....... If this was China he would have been shot already! Screw CEO'S lets shoot a few and see what happens!!

    May 15, 2012 at 3:28 pm | Report abuse |
  12. John Sweeney

    I would gladly have lost $2B for half of his pay.

    May 15, 2012 at 3:29 pm | Report abuse |
  13. disgusted

    Fool some of the people all of the time or all of the people some of the time. A great American motto that now defines us. Those Americans swho can do that die (or go to prison) with all marbles.

    May 15, 2012 at 3:29 pm | Report abuse |
  14. jboh

    No! No body is worth that much! These are the same clowns that said no man is worth $5/hr.

    May 15, 2012 at 3:29 pm | Report abuse |
  15. Rex

    If this yokel is worth $23 million, I'm Napoleon Bonaparte...

    May 15, 2012 at 3:30 pm | Report abuse |
    • KF

      I think you're more Napoleon Dynamite. The company made 5 Billion dollars. The company was the best run bank during the financial crisis. Sounds like you're just mad because you hate your career.

      May 15, 2012 at 3:33 pm | Report abuse |
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