JP Morgan: Wah!!! Wah!! Obama's being mean to us!!

[CatWoman]

Feb. 3 (Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said it’s “unfair” for politicians to criticize Wall Street pay without differentiating compensation based on performance.

“It’s unfair to talk about us as one,” Dimon, who was paid $1 million last year and didn’t accept a bonus, said today at a conference sponsored by Crain’s New York Business. “Not every company was responsible.”

U.S. President Barack Obama and politicans worldwide have criticized financial industry executives for taking multi- million dollar pay packages after banks and brokerages racked up more than $800 billion of losses and writedowns on credit- related assets. Dimon, 52, is among CEOs including Bank of America Corp.’s Kenneth Lewis and Morgan Stanley’s John Mack who opted not to take bonuses for last year.

“Pay got a little exuberant, and there were some legitimate complaints,” Dimon said. “But I don’t think the president of the United States should paint everyone with the same brush.”

New York-based JPMorgan, the second-largest U.S. bank, doesn’t have so-called golden parachutes or retirement packages, and all top executives must retain 75 percent of their stock- based compensation, Dimon said.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a9O1h4.cb0Kg&refer=us

[global1]

1. My Understanding Is That The Only Companies Affected By Obama's New Compensation Guidelines Are ....

those that received taxpayers(bailout) monies. It would seem to me that this would be a good incentive to run your company the right way so as not to need bailout funds and be able to pay execs what they want. It is both a stick and carrot at the same time.

[Skinner]

2. Exactly.

This asshat complains that Obama should take performance into account. Duh. By definition, every bank receiving bailout funds has already shown their inability to perform.

[tridim]

3. OK, then let's base the pay on performance

You drive your company into the ground, you get a negative salary.

Great advice Mr. Filthy Rich dude.

[Jennicut]

13. Sounds good to me. Now the asshole gets nothing.

[Blaukraut]

4. compensation based on performance? Let's see...

Using that yardstick, these guys should have to give money back rather than getting paid.

[Bake]

5. "A little exuberant" ...

:rofl: :rofl: :rofl: :rofl:

Stop it, really! Yer killin' me!!!!!

Bake

[azmouse]

6. Hey executives! Cry me a river!

:rofl:
You're getting exactly what you deserve... no, actually you'll still be way overpaid. So sit down and shut up.

[YOY]

7. "Pay got a little exuberant"

That's a nice way of saying "we don't understand not how to be greedy assholes with Tax Payer bailout money."

[rvablue]

8. BEST. LAUGH. OF. THE. WEEK. Your pic needs to be the next cover of TIME...

if they had the cajones, they would use it.

So, so funny. And like most good comedy; so, so true!

[YOY]

10. Time? No, try Fortune...

Like he deserves to be on the cover of that.

[YOY]

9. Let's start putting faces to these words:

Jamie Dimon



Put his puss all over TV and mention where he lives (and how many houses he owns.)

[TomClash]

11. Meanwhile Goldman is preparing to pay back the money nt

[rateyes]

12. Then, Mr. Dimon, why did you take TARP funds?

[underpants]

14. What "talent?"

:shrug:

[Skidmore]

15. All that investment in politicians... tsk, tsk, tsk,

Owning a pol does not mean that your vote counts more than the vote of the people. I've said over and over--there are more of us than there are of them. As long as we have some semblance of a dmeocracy, we can fight them back. The pols may do what they were ELECTED to do this time over what they were paid to do.

[vaberella]

16. I used to work for those criminals.

Dimon is crud and he can whinge all he wants. They'd hold pay of employees for 3 weeks so they could collect the interest off of their paychecks...so that employees who live paycheck to paycheck are left scrambling. They do nothing but whinge and moan and now they want differential treatments when they ALL participated in dodgy mortgages. When I worked at Chase all they cared about was Mortgages, if you could pull in mortgages you were the king of the world. Now they act like they were innocents. Not to mention Dimon thinks he's the next Napolean.

[gmoney]

17. This is such crazy talk...

I'm pretty sure I could live the rest of my life if I had half a million dollars (after taxes) handed to me this year, and never worked another day in my life.

As long as I didn't invest it in the market... and the economy doesn't go Zimbabwe on us.

The standard of excess some of these people enjoy is so off the charts, they just don't see the absurdity of bitching about "only" making half a million a year.