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. divegirl

    Well, I'm a longtime shareholder and I voted to fire him.

    May 15, 2012 at 12:08 pm | Report abuse |
  2. Grumpster

    No way. For that amount of money, there could have been layers of middle level employees and managers that could have checked and rechecked safeguards that would have kept $2B from being tossed down the toilet. Pay this one guy what you could easily pay 100 MBA's to live comfortably....insanity.

    May 15, 2012 at 12:08 pm | Report abuse |
  3. Jane

    This bum should be fired and tough regulations should be put in place to control these thieves. However, Romney and the Republicans want to stop all regulations and let these bums regulate themselves. There is the difference betwwen Republicans and Democrats.

    May 15, 2012 at 12:09 pm | Report abuse |
  4. prufrock91

    Oh, Hell NO!!!!!!

    May 15, 2012 at 12:09 pm | Report abuse |
  5. Dave

    MAKES ME WANT TO PUKE

    May 15, 2012 at 12:09 pm | Report abuse |
  6. charlie@aol.com

    Dimon's got a million ways to get it!

    May 15, 2012 at 12:10 pm | Report abuse |
  7. Clinker

    Oh, HELL no!

    May 15, 2012 at 12:10 pm | Report abuse |
  8. Quiet one

    His pay, based on the current environment is not unusual. He is being rewarded for running a company focused on shareholder return. Frequently this is not for the public good. The conflict is that we used and continue to use public money (direct loans, artificial interest rates, etc.) to support their business model and we (the public) want a return on our investment. It won't happen. Companies are rewarded for this behavior, schools teach the behavior, why are we surprised? Public company executives, regardless of the industry, are here to perpetuate the business model focused on quarterly earnings. The merit based work for the common good model is long gone.

    May 15, 2012 at 12:10 pm | Report abuse |
  9. Daddy Bear

    HE DOES NOT DESERVE ONCE CENT OF THAT! BEING THE COMPANY LOST 2B, HE SHOULD OF BEEN OVERSEEING THE OPS OF THE PLACE AND HAD OBVIOUSLY FAILED. MUST BE FAILURE PAY!! HE SHOULD BE MADE TO GIVE IT TO THE BANK SO THEY CAN MODIFY MORE LOANS...

    May 15, 2012 at 12:10 pm | Report abuse |
  10. rusty

    He gets 23 mil and JPM employees got zero raises this year, does not sound right to me.

    May 15, 2012 at 12:10 pm | Report abuse |
  11. stephen l. walkinshaw

    sure the shareholders are giving him the monies, there bums just like him.

    May 15, 2012 at 12:10 pm | Report abuse |
  12. NO

    nope, nopiddy nope

    May 15, 2012 at 12:10 pm | Report abuse |
  13. Dave

    Obviously he deserves 23 million dollars. Chase will just have to lay off 600 or so workers to make that amount up/raise their stock prices and recover from the boondoggle he presided over.

    May 15, 2012 at 12:11 pm | Report abuse |
  14. Jerry

    Well, probably not, but if it's in his contract then they have to pay. The news media loves to make an issue of this like it's something sinister the corporations do.

    May 15, 2012 at 12:11 pm | Report abuse |
  15. No, Not Really, No

    I don't think any employee should be paid a bonus for losing customers' money.

    I don't usually deal in absolutes, but this one seems to be a good case for one.

    Fairness does have value in human society. His bonus is not fair.

    May 15, 2012 at 12:11 pm | Report abuse |
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