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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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This guy should have to give his salary back to cover the losses on his gamble with other peoples money.
Oh yeah sorry I forgot, not gonna happen... this is the new standard, gamble with other peoples money, lose it, get paid big bucks, rinse and repeat. Is it any wonder there's an occupy movement.
Too bad we can't just rid ourselves of a pariah like JP Morgan.
ummmm, no! No bonus, no stocks, no pension .........ZIP....Nadda...nothing!!!!
If the company losses, the people responsible for the decision should not be rewarded...this is insane
He shouldn't even get unemployment benefits let alone 23 million dollars. The rest of us are in the wrong line of work.
NO!!! and Ina Drew should not be able to get her HUGE severance package, how can she lose 2 Billion and still be able to receive her payout?????
Heck No...Chase customer service and practices has really gone down the drain
Of course he doesn't deserve 23 million. What he deserves is jail. We desperately need reform.
If I made a mistake that cost my company $10,000, I'd get fired with no severance. This rich guy makes a mistake that costs the company $2 billion, and he gets a $23 million pay package and a bunch of pats on the back. This mentality is a perfect example of why our economy is so messed up.
I agree
Actually, JP morgan made a lot of many this year. They lost $2 billion and made $27 billion, where is the issue...This guy did very well and deserves his paycheck.
it wasn't that they just lost money. Their division in charge of hedging risks lost this money due to credit default swaps!
the SAME practices that landed us in the worst economic crisis since the great depression!
of course they make money, he gets a 20b dollar bonus! but the entire economy will SUFFER because of HOW they make the money! this was ONLY three years ago!
If he had any remorse, he would decline his compensation for a year, allowing the company to recoup some of its losses. It seems he doesn't really care, as long as he gets his big paycheck.
ABSOLUTELY NOT! THIS MAN GOES UNPUNISHED FOR $2 BILLION LOSSES. WHAT WOULD HAVE HAPPENED IF AN HOURLY WORKER HAD CAUSED $1000 LOSS BY SOME WAY? HE WOULD HAVE BEEN FIRED!!! DIMON MUST GO HOME!!!!!
I think that it is a very poor decision by the stockholders to award that much money. Having said that, we all need to realize that our opinions do not matter. The issue is between him and the stockholders, and is of no concern to anyone who is not a stockholder.
I agree on bailing them out as far as not doing it. the problem is if banks keep doing this and it doesn't seem like they're going to stop they will ruin the rest of us. You can't necessarily do noting, but you can't always fix them either. But proper regulation is the best bet
I hope the Fed's come down hard on them and all the rest of the Wall Street pigs.
Yes he deserves it. I hope they have to even fire employees to give him that package. it's his 'murkican right to make money off a huge mistake and off the backs of others. You don't want that evil so.....shal.....ism do you? (sarcasm mode disabled)
Not no but HELL NO!!!!! The buck stops with him. He is not very much in control of his bank if he did not realize what this other group was doing. Why should he get a bonus if he is not running things any better than he obviously is?