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. Sam

    He needs to look at our mortgage crisis before accepting any monies!! Reduce the interest rates on homeowners insurance without the homeowner having to bend over backwards for it and in the process losing their home. What a person he is!! It makes you wonder how he can live with himself!!

    May 15, 2012 at 12:15 pm | Report abuse |
  2. Kelly Rauscher

    Not no, BUT HELL NO!!!
    I run my our company, I don't ever get one tenth of that amount and peoples live depend on me doing the work right every time. They say organized crime is dead, B.S.. They just took over our banking system, it seems the GOP, a large part of the Democrats and are now stealing everything they can get their hands on. It's even legal. For forty years the peopl have et it happen and did little about it, now it is most likely to late to do anything. If we were to try to do something they would just turn the miletary on us with shot to kill orders, or at least they would try. Anything to stay in power. You thing its bad now, just put the GOP incharge and see what happens, can you say 1929! I once was a republican, but now am a democrat, a must from where I'm setting. I paid twict the percentage in taxes as Mitt did and it hurt bad. Will I'm done with my rant, for the republicans out there that have drank way to much Kool-aid, don'y bother teying to tell me how erong I am, I'm 60 and called this mess forty years ago.

    May 15, 2012 at 12:16 pm | Report abuse |
  3. NotForYou

    So he leads them to a 2 billion loss up front, then they lose 18 billion in dropping of their stock...sure give him 23 mil. He's doing such a great job.

    May 15, 2012 at 12:16 pm | Report abuse |
  4. RJB

    NO WAY should he get is pay package after his decision making cost investors nearly $3 billion dollars. The executives should forfeit their bonuses to go towards the losses! When will we learn from these mistakes?

    May 15, 2012 at 12:16 pm | Report abuse |
  5. BJS

    NO

    May 15, 2012 at 12:16 pm | Report abuse |
  6. buckeye

    Everyone needs to watch PBS.Frontline show called Money, Power, and Wall Street. Nothing was done to the banks back in 2008 when President Obama took office because they tried to keep consumer confidence up, but these guys have been playing dirty for a long time, we're talking back into the George W. reign of terror. I don't know about anybody else but I'm sick, sick, sick of these high power theives taking away the average persons retirement & investments and walking away with millions of dollars with no consequences. Bring back Financial Reform to post Depression era and start protecting the people of this "great nation". I guarantee you that if Romney gets the white house, it will just be more of the same corruption, the man likes his money & his rich friends to stay rich. Want to hedge your bets?

    May 15, 2012 at 12:16 pm | Report abuse |
  7. Carrie

    NO ONE is worth that kind of money and especially for putting others at risk and out of work or failing at their job.
    2 billion lost! To whom did this money get lost too? No one has said who profitted by this blunder. What thief in the night got it anyway?

    May 15, 2012 at 12:17 pm | Report abuse |
  8. John Indy

    Makes about as much sense as the shareholders voting to pay disgusted Chase customers to close their accounts... Hmm, as one of the disgusted I guess it's my call. Join me? Dump Chase now!

    May 15, 2012 at 12:17 pm | Report abuse |
  9. Zelina

    What the hell are they smoking???? Fire and say la vie baby ....don't let the door hit u on the way out!! que pay package que nada!!!

    May 15, 2012 at 12:17 pm | Report abuse |
  10. Mayhem

    I hear the argument that it's actually only $6 million annually. Like this is "better". People have been really brainwashed to believe that people deserve to make 100 times the average salary of the regular people. For doing what? Like I said earlier, unless you are saving lives in some way, what the hell are you doing to require pay that is so much more that what those of us that keep the world operating are able to make? By the way, $6 million/yr is $16,666 per day, still more than many minimum wage workers make in a year. Mr. Dimon is a "made man" no matter how you chop up his salary. I am not hating. If I made $6 million a year, I'd take it. I wouldn't deserve it either, but if the "stockholders" want to give it to me, oh yes, I'd live LARGE!!! I truly believe that even Mr. Dimon knows he's getting over.

    May 15, 2012 at 12:17 pm | Report abuse |
  11. citizenUSA

    You know, what's 23 million compared 2 billion? But no, of course he shouldn't get it. As the CEO he's ultimatly responsible for knowing what's going on. What was on his mind after the first billion was lost? He just let the guy keep going? And what nerve a person would have to have to say, "hey, we lost 2 billion dollars of the company's money but I'd still like you to pay me 23 miliion dollars".

    May 15, 2012 at 12:18 pm | Report abuse |
  12. Tarak

    Absolutely not. This man is the worst manager I have seen in my life. He can not even oversee the work of his investment chief. He should not be given any money, not even his paycheck, or bonus till he recovers 2 Billion Dollars of investor's money.

    May 15, 2012 at 12:18 pm | Report abuse |
  13. Meg

    I think it would be absolutely insane to pay anyone for losing that kind of money! When did rewarding someone for screwing up become the norm?? geesh....I think common sense is dead.

    May 15, 2012 at 12:18 pm | Report abuse |
  14. Montgomery

    He should not have received that amount no matter what. An execellent job = 3-5. A good job 2-3. What he did = 1/2-1.

    May 15, 2012 at 12:18 pm | Report abuse |
  15. TheOnlyOpinionThatMatters...

    No, a bank teller coming up short in his till, would loose his job! Anyone costing their company a significant loss of money, would loose his job! This guy, should loose his job and possibly face criminal neglect charges by the share holders!

    May 15, 2012 at 12:19 pm | Report abuse |
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