Jamie Dimon, Chase CEO, Fires Back At Obama

bloomberg.com:

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."

Read the whole story: bloomberg.com

Comments

[argeec]

07:35 PM on 02/04/2009

This is all a smokescreen so we don't realize that the banks aren't being nationalized like they should be.

[crazylikeafox]

04:03 PM on 02/04/2009

Republicans game plan

Make sure the rich get hundreds of billions no questions asked and no strings attached.

Make sure the rest of Americans get zip.

[sueinmn]

03:18 PM on 02/04/2009

I just receivd an emergency email from moveon.org and they claim the repubs have rallied enough people to beat this stimulus down. They are askng for our help once again. We can't just sit on the sidelines and expect Obama to succeed alone. We need to show support and call!

Phone Numbers Obama Reception
Comments: 202-456-1111
Switchboard: 202-456-1414
FAX: [phone]
TTY/TDD
Comments: 202-456-6213
Visitors Office: 202-456-2121
Senators
http://www.senate.gov/general/contact_information/senators_cfm.cfm

[Dustee]

02:40 PM on 02/04/2009

WOW, the nerve of the President, huh!

Why don't you quit and take your inadequate skills with you.

[ProudNeoCon]

02:56 PM on 02/04/2009

Or better - quit, start a new firm, hire smart people, buy depressed assets from the goverment owned banks...

[houstonbch]

08:11 PM on 02/05/2009

Jamie Dimon is actually not among the idiots and thiefs running the financial industry. He is a very smart person and very sound with economic concerns. Like he said (and take this from a broke, lowe class, very fed up with the "above the law" execs) "It's unfair to talk about us as one."

[Golfer59]

02:25 PM on 02/04/2009

Hey Dude, you come to us and beg for our money then you have to put up with the stipulation!!!!!

[Dustee]

02:45 PM on 02/04/2009

Maybe we can fire all these mf's and replace them with executives from *another* country the way they do their workers! And pay them much less money. We may be able to get two for the price of one.

[ProudNeoCon]

02:57 PM on 02/04/2009

That is very fair but:

http://news.yahoo.com/s/ap/20090204/ap_on_go_pr_wh/bailout_executive_pay

"The administration also will propose long-term compensation restrictions even for companies that don't receive government assistance, Obama said.
"

I have NO problem with ANY restrictions on the guys who ask for money, but people who are not asking for support should be left alone...

[BetterDeadthanRedState]

01:40 PM on 02/04/2009

I feel your pain. It's hard to get by on half a million a year.

[JMBrodie]

01:41 PM on 02/04/2009

May have to cut back to only using three of my bathrooms...

[BeyondGoodAndEvil]

02:01 PM on 02/04/2009

That will still leave you with 5.

[NoCents]

01:49 PM on 02/04/2009

Does this include the stock they are paid too

[LeftRight]

02:11 PM on 02/04/2009

If you read about it, you will find that the answer is yes and no. They are allowed to be paid more than the $500,000, IF it is stock, AND if the stock remains illiquid until the bailout monies are paid back. So if you were Mr. Dimon, and you borrowed $1,000,000,000 in future bailout monies, and they paid you $500,000 in cash, and $1,500,000 in stock, you wouldn't be able to gain access to that stock until such time as the $1,000,000,000 is paid back to the govt.

[houstonbch]

08:13 PM on 02/05/2009

He actually purchased 500,000 shares of Chase stock (for about 11 million)

[Zenzelae]

01:32 PM on 02/04/2009

Chase is raising interest rates on credit cards. They will get their money one way or the other.

[NoCents]

01:49 PM on 02/04/2009

Don't forget they can hire 30 East Indians for each American too.

[Dustee]

02:49 PM on 02/04/2009

That's why I say we'll get some East Indians to take their place. Turn around is fair play, LOL.

[abby4ever]

01:22 PM on 02/04/2009

New main thread...and shade your eyes, the text for the headline has letters about 30 feet high in bright red...

[Reaganwater]

01:36 PM on 02/04/2009

Reading Huffpo on a drive-in movie screen ? very impressive ! A monitor and then some !

[me again]

01:12 PM on 02/04/2009

Chase has avoided the stupidity of Citicorp, however, they did accept money and therefore, until the principal and interest are paid, no bonuses, or outlandish packages.....humility for their stupidity......Dimon chases down creditors and does not feel sorry for them........

[sueinmn]

01:10 PM on 02/04/2009

TRADE WAR and THREATS today!
We need to take a stand!
Buy American provisions

Please make a call now!

Phone Numbers Obama Reception
Comments: 202-456-1111
Switchboard: 202-456-1414
FAX: [phone]
TTY/TDD
Comments: 202-456-6213
Visitors Office: 202-456-2121
Senators
http://www.senate.gov/general/contact_information/senators_cfm.cfm

[mrsmdressup]

01:14 PM on 02/04/2009

Protectionism is a fast road to complete collapse. You don't buy our stuff, we won't buy yours.

[me again]

01:25 PM on 02/04/2009

We have given away a ton of our industry.....I challenge you to find a truly operational textile plant in this country for instance.....the mills turned into importers.....the retailers decided they did not want to pay the middle man, so they went direct.....that forced mills to close.....they ended up selling their machinery to the Far East......why should we pay for a significant part of China's infrastructure including their military build up through purchases of cheap good by Walmart and higher goods through Macy's......we need to build our industry back, or wel will be a service based economy and have nothing to sell but tourism. We are the biggest economy on the face of the earth, we can compete with Europe as long as their governments do not subsidize their products.....Japan as well, but China, Malaysia and that ilk are bleeding our economy dry and laughing on their way to their banks.

[NoCents]

01:33 PM on 02/04/2009

Less Profit, higher wages, more jobs are worth fight for? Join the military and fight for all of this other crap

[sueinmn]

01:14 PM on 02/04/2009

see Huff story

http://www.huffingtonpost.com/2009/02/04/trade-war-brewing-over-ob_n_163798.html#postComment

[yearlin]

01:04 PM on 02/04/2009

then give back taxpayer money.

[NoCents]

01:52 PM on 02/04/2009

They lost too much in the stock market trying to get richer

They lost too much paying off 54 Trillion in SWAP and Derivitives

[BeyondGoodAndEvil]

02:04 PM on 02/04/2009

54 trillion? Try 10 times that much.

[ProudNeoCon]

02:55 PM on 02/04/2009

Goldman just said that they would like to give the money back as soon as FED agrees...

[abby4ever]

01:01 PM on 02/04/2009

The new rock band Jamie & The Tr0lls just released their first single, called 'Lookin' For a Third Way'.

They don't like the clear-cut choice Obama is giving them: bailout with capping or no bailout and no capping.

Poor things.

[MichiganJFrog]

01:04 PM on 02/04/2009

I saw them open for DJ Georgie Dub and his Cactus Codpeice.

Worst show you could possibly imagine.

[Episcopagan]

01:06 PM on 02/04/2009

Weren't Neo and the Gold Lame' Lushes on the stage that night too?

[abby4ever]

01:09 PM on 02/04/2009

LOL!!!

[NoCents]

01:53 PM on 02/04/2009

As soon as the Bush Tax Cuts in the O's stimulus they will be fine. :) LOL

[ProudNeoCon]

12:50 PM on 02/04/2009

I guess I was too quick to say that Obama's plan is reasonable... Now he want to regulate the compensation in the companies which do not use TARP... With all due respect - the goverement should have NO say in how much people are paid in the private sector. Let me get it straight - the firms which did not do stupid loan, did not get overextended and as a result making a very nice profits will be now prevented from paying people what they want?

The funny part is that by eliminating high paying jobs Obama will eliminate the income tax revenue collected from those people. Since 25% of the people pay 85% of the taxes I guess the tax for the everyone else will have to go up....

[MichiganJFrog]

12:53 PM on 02/04/2009

"Now he want to regulate the compensation in the companies which do not use TARP..."

According to who?
You can't just make something up and then argue against it. NeoClown l i e s don't work anymore.

[ProudNeoCon]

02:54 PM on 02/04/2009

http://news.yahoo.com/s/ap/20090204/ap_on_go_pr_wh/bailout_executive_pay

"The administration also will propose long-term compensation restrictions even for companies that don't receive government assistance, Obama said.
"

[mrsmdressup]

12:53 PM on 02/04/2009

He's coming after your salary first!

[abby4ever]

12:48 PM on 02/04/2009

If using taxpayer money to build something or, as in this case, fix something, is socialism, America has been a socialist country since its inception.

[lornejl]

12:51 PM on 02/04/2009

It's a buzzword, the mice that belong to the repub party respond to basic stimuli.

[MichiganJFrog]

12:57 PM on 02/04/2009

I wonder if everytime Windows plays the ding sound they start drooling all over their keyboards?

[gjohntheterrible]

12:52 PM on 02/04/2009

By that token isn't rebuilding Iraq for the Iraqi's a form of socialism as well?

[abby4ever]

01:15 PM on 02/04/2009

Probably.

[Episcopagan]

12:46 PM on 02/04/2009

Have you seen the little pi.ggies
Crawling in the dirt
And for all the little pi.ggies
Life is getting worse
Always having dirt to play around in.

Have you seen the bigger pi.ggies
In their starched white shirts
You will find the bigger pi.ggies
Stirring up the dirt
Always have clean shirts to play around in.

In their sties with all their backing
They don't care what goes on around
In their eyes there's something lacking
What they need's a d a m n good w h ac k i n g.

Everywhere there's lots of pi.ggies
Living p.iggy lives
You can see them out for dinner
With their p.iggy wives
Clutching f0rks and kn!ves to eat their ba-con.
.
Give the execs a free junket to 10050 Cielo Drive and let Charles M. out for the weekend.