Do you really think corporate Board of Directors are independent and looking out for the best interests of the stockholders? Look no further than the Board of J.P. Morgan. They voted to give Jamie Dimon an $8.5 million increase in pay for his outstanding performance in 2013. This is a 74% increase over the paltry $11.5 million they paid him in 2012. What would they do without such an outstanding leader?
His brilliant leadership of JP Morgan is clearly borne out by the over $20 BILLION in fines paid during 2013 for the criminal misdeeds of his bank over the last decade of decadence. No wonder he plays tennis inside his multi-million dollar NYC penthouse. With annual pay of $20 million he can afford the damage to his rare art.
Word is that Jamie is terribly disappointed with his shamefully small increase. He was making $23 million per year back in 2011. How can an oligarch make ends meet when his compensation is lower than it was three years ago?
When I see stories like this I wonder what exactly it would take to get fired as CEO of a Too Big To Trust Wall Street Criminal Bank. Cashiers at Home Depot get fired if their till comes up $10 short more than three times in six months. The arrogant pompous CEO of JP Morgan can cost shareholders $20 BILLION in the space of one year and gets a 74% raise.
Of course, the only thing that matters to the Board and the ultra-rich shareholders is the fact that JP Morgan stock is up 22% in the last twelve months. That means his leadership has been stellar. Forget the $6 billion London Whale losses. Forget the mortgage foreclosure fraud. Forget rigging currency and derivatives markets. It’s amazing how much money can be generated when you borrow from the Fed for free, cooperate with the other Too Big To Trust Wall Street Criminal Banks to drive stock prices higher and suppress the price of gold, make accounting entries to relieve loan loss reserves, and fraudulently value your assets based on mark to fantasy accounting. This is truly pay for performance.
I must be doing something wrong. I help steward the resources of my employer in a cautious and conservative manner. I have always attempted to make sure every action I took was the best financial decision for my organization. I’ve done my job well over the years. I’ve gotten between 1.8% and 3% annual raises for my efforts. It looks like I’ve been making a big mistake. I should have taken extremely reckless risks and lost my employer millions in the process. Then I could have been promoted and given huge raises. How could I be so stupid?
Jamie Dimon is a truly disgusting human being. He is the poster boy for everything that is wrong with this fucked up corporate fascist state. He is more powerful than the president. He and his banker cronies own Janet Yellen. When the wheels come off this bus, we can only hope the angry broke masses will focus their ire on the true culprits. The wheels are wobbling. There is a lamppost with Jamie’s name on it. His $20 million won’t help him then.
THIS is exactly the crap that it fueling the concern over the growing income gap. Trouble is, people out here are blaming the wrong people, and trusting the wrong people to set things right.
Jamie’s “earnings” and those of the other members of the Bankster Brotherhood are only possible by the grace of the Fed, Congress, the U.S. attorney general, and all the other government enabled authorities and factotums who have used our broken legal system and our corporate-crony-bought and paid for government to funnel the little wealth remaining to the bottom 90% of the population, as measured by net worth, to the top 1% of 1%.
Restore an honest financial system based on a gold-backed currency, shutter the central bank, eliminate fractional reserve banking, and make the speculators eat their losses.. and Jamie and his confreres will be hiding out in cave.
So, to put this mess in perspective, a regular Joe who makes about $50k a year would have to be responsible for their company paying $50 Million in fines to ‘earn’ their pay.
I sometimes wonder when evil pieces of shit like Dimon will be taken out. Of course, since a large majority of the country has no idea who he is or why they should have contempt for him makes it unlikely. I would assume he employs a small army of body guards to protect him from the real people who he steals from.
Ahhh, It’s good to be the king….
Until it isn’t….
The hubris of Jewish banksters seems to have no bounds. JPM has CDS’ outstanding that are 33x more than their assets. They’re leveraged almost as much as the Federal Reserve. The coming crash will wipe out JPM and jackass Jamie. He’ll be a pariah like Dick Fuld at Lehman, remember him? No bailout either, the government is bankrupt, and the Federal Reserve balance sheet is now $4 trillion. Jamie and Lloyd will be swinging in the wind.
Are those his White House cuff links or his Baphomet cuff links?
Jackass Jamie makes $20 million a year? Obama spends ten times that much for a ONE weekend vacation, on your dime, money you worked hard to make and was stolen from you by Obama’s IRS so he could play golf in Palm Beach.
Death to Dimon and all the scumbag criminal bankers.
Get your currency out of their reach.
Iska Warran
They were a gift “from a resident of the White House.” Read more here:
http://www.huffingtonpost.com/2012/06/15/jamie-dimon-cufflinks-presidential-seal-senate-hearing_n_1600335.html
Could it be that all of you are envious and full of covetousness toward Mr Dimon.Would you not take advantage of your position if you were the CEO of a large bank?I think most of you are not as righteous as you think you are and I hate the smell of hypocrisy.
bb, could it be that you are a fatuous booby?
No one out here except for a few hard-core commies are truly “envious” or “covetous” of the wealth of someone who duly earned it by productive activity, or even merely by being popular. Most people do not seriously resent someone like Bill Gates or Michael Dell, or even instant billionaire Larry Zuckerberg who had billions handed to him in the IPO of his company. After all, no one held a gun to anyone’s head to make them buy FB shares on the IPO opening. Nobody was forced to give people like Kayne West or Justin Beiber or any of the other brainless popular entertainers who managed to fall into hundreds of millions of dollars just by appealing to the dumb masses. People don’t even care if twits like Paris Hilton and Lindsay Lohan make bank, because the awards they were given were not taken from anyone by force, least of all the taxpayers, nor did their admittedly unearned riches come from engineering the biggest financial fraud in the history of civilization.
But the Bankster Brotherhood “earned” their riches by fraud and government force. If nature- the free market- had been allowed to take its course over the past 30 years, nevermind the past 15, Dimon, Blankfein, Weil, and their ilk- and the institutions they led- would never have been able to accumulate the rentier wealth they made from writing millions of fruadulent loans, and creating towers of leverage in the form of hedges sold against those loans, and hedges against the hedges, to the point where it is impossible to really know how many claims there might be against the original collateral and how much that collateral might really be worth.
And the collapse of 2008 would have been permitted to do its work of cleansing the market of fraudelent debt and repricing risk, while wiping out the institutions who created this crap and whose value was based on mis-represented, mis-priced and wholly fraudulent assets whose true market worth was perhaps 40%, at best, of face value. The shareholders of these institutions would have been wiped out, and there would have been “clawbacks” of executive pay, and many, many criminal prosecutions.
Instead we shoveled $6 Trillion either directly or indirectly, in the form of an alphabet soup of programs designed to rescue these people from their own malfeasance and insane gambling, and make them whole at the expense of the rest of the populations, either through the taxes we pay to subsidize the numberless government programs that secretly and not-so-secretly help offset the staggering losses these institutions incurred, and which would have been fatal to them were it not for government intervention in many forms.
Jamie owes his salary and every raise he’s gotten to the American taxpayer. He, and his brethren at the other TBTT financial houses, are the most expensive, gluttonous, and entitled Free Shit Army ever to exist, one of the wealthiest ruling classes in the history of the world, second only to Saudi oil sheiks.
At some point, the piper will have to be paid. The only thing that will suffice for me is to see these people prosecuted for the hundreds of counts of bank, securities, and mortgage fraud; and insider trading that they are no doubt very guilty of, and see every single dime of compensation they have received clawed back by way of penalties and restitution. They should then be stripped of every license and certification that enables them to make a living above the bus boy or car wash attendant level, and whatever paycheck they earn from being fast food workers or some such, be garnisheed for fines and restitution to leave them just enough money to live in wire-cage SRO hotels in the worst neighborhoods of towns like Camden or Gary, IN. Killing is too good for these fuckers- they should be made to live with the kind of results that their criminality and greed have produced for so many innocent people.
Chicago ,so you think I am fatuous booby ?Not sure what that means but I will take it as a compliment.
I read and study the bible and the more I do it the more I become aware of SIN and how blinding it can be.Most of the resentment directed at successful people is a result of coveting what they have or what
they are.Most people try to turn their envy into a self -righteous slogan and then use force to take what they covet.Most people are quick the to see evil in others but don’t or.can’t see the evil in their own hearts.We are all just like the people we condemn.I know Dimon is a crook but how.many of us would be the same if we were in his position.This site in full of people who think they are good ,decent and would never do any evil but the evil is already in their hearts.That’s one good thing about the coming collapse ,people are going to see evil like they never have before and it want be bankers doing it.It will probably be your next door neighbor.Read Romans chapter 7. Read slow and think about what PAUL is saying
I won’t use force to take what isn’t mine… what I did not earn in a value-for-value transaction, or what I was given voluntarily.
I’m just tired of being robbed of what little I have by force. It’s bad enough to be robbed to support a bunch of breeding free loaders at the bottom, but at least all they can do is destroy the neighborhoods they occupy, and anyone dumb enough to hang around them.
However, when the government sets us up to be robbed by the banking cartel and the other crony capitalists, there is no escape. They wreck every neighborhood, skim every transaction, render every bank unsafe and our money unsound. They are literally licensed to steal, and you could support the entire south side of Chicago for a year on what they take in a week in ill-gotten gains from fraud, insider trading, mortgage and loan fraud, and derivatives scams of baroque complexity, all enabled by a bought president, congress and Federal reserve whose efforts are aimed at conveying all our wealth to Criminal Crony Class.
I know these guys are crooks and thieves .They should be put in jail but they are the symptoms of a much bigger problem.The bigger and deeper problem is the moral rot that has taken place over last 100 years.It has been a slow but steady all across the nation and in every area .Spiritual bankruptcy leads to moral bankruptcy leading to financial bankruptcy and then war .It’s all scary when you think
About it.What’s happenings to us has happened to many empires in history.When a nation abandons GOD judgment follows.Look at the history of Israel.
If Dimon doesn’t like his pay and bennies, he can change employers like any other person.
Buffett;
Go put your money where your mouth is. Go ahead and hire the schmuck and triple his salary if it make you warm and fuzzy.
https://www.youtube.com/watch?v=NmJsQ_dGQlg
As Bloomberg News lays out, the board of J.P. Morgan Chase & Co. JPM is deciding whether CEO Dimon can collect 2 million of stock options granted in 2008 that are now worth about $34 million.
When I was much younger, I went to an exclusive private school in NYC (The Browning School) for a few years with Jamie Dimon. He and his two brothers, Teddy and Peter also attended Browning. They had been going a public school in Manhattan before that I believe, and transferred to Browning. They had moved to NYC from Larchmont, NY. I think Jamie was maybe about 14 when he transferred to Browning with his brothers.
He once told me that when he went to a new school, as he had done when he went to P.S. 6 before enrolling at Browning, he would seek out the toughest bully type in the school and get into a fight with them and beat them up. This is apparently how he established his “alpha male” status in a new school. Not sure if he did that at Browning, but he probably wouldn’t have needed to, since Browning was a far cry from a school like P.S. 6. So I would say that Jamie was fairly street smart and feistier than the average Browning student, due to formative years in the public school system.
Of the three brothers, Jamie had by far the biggest mouth. His smaller brother Teddy was more friendly but kind of goofy, his older brother Peter was more quiet and scholarly. Jamie tried to dominate every classroom discussion about anything, and always felt the was right about everything. Incredibly in love with himself and totally narcissistic.
He would be fairly nice to me if we were by ourselves, but would make derogatory comments about me if we were in the company of others he esteemed more highly than me. He was particularly friendly with a Jewish kid in our class who was good at math.
Once asked me why I always agreed with everybody, as if that was a really bad thing (which it may have been, but my upbringing was different than his). He LOVED to argue, just for the sake of arguing it usually seemed. He loved being “in your face”. A very smart guy. Good at sports. Fairly popular. But a total a-hole on many levels. I was his polar opposite, introverted and quiet and non-confrontational, always trying to get along.
When we were both about 14 and walking home from school one day, he introduced me to the phrase “The masses are asses”. Maybe his successful Wall Street father taught him that, who knows. When I once asked him what his father did, he said he was an “architect” for some reason, although I later found out he was a Wall Street guy. Maybe his father told him to tell people that, or just thought he was so great that he considered himself an “architect” at building wealth or something stupid like that. Who knows.
Anyway, Jamie, even in his teens, was very loud, brash, and acted like the whole world revolved around him. When he was “educating” the rest of us in his loud, obnoxious way, the rest of the world ceased to exist. The universe was merely made up of him and his superior knowledge about whatever the topic happened to be.
He once told me he was going to major in political science when he got to college. Don’t know if that happened or not. On school summer vacations, apparently he would act as his father’s apprentice as the latter’s Wall Street firm, I later read somewhere. Not surprised he ended up where he did. His astounding ego and superior attitude were perfect character traits for somebody who would devote his life to taking advantage of the sheep out there who would be conned by his expansive and supremely confident (cocky) persona. What a crock. LOL. Seems like the world rewards narcissistic, cynical, a-holes with personality disorders.