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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 05:04 PM
Original message
JPMorgan CEO Jamie Dimon: Stop Bashing the Rich
Source: AP/Reuters

Published: Wednesday, 7 Dec 2011 | 5:21 PM ET

Jamie Dimon, the CEO of JPMorgan Chase, is railing against bashing the rich.

Dimon was responding to a question at an investor conference about the hostile political environment towards banks.

"Acting like everyone who's been successful is bad and that everyone who is rich is bad I just don't get it," said Dimon at the conference, which was organized by Goldman Sachs .

Dimon said he's worked on Wall Street for much of his life and contributed his fair share.

Read more: http://www.cnbc.com/id/45586932



Poor Jamie. :nopity:
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 05:07 PM
Response to Original message
1. Just as Soon as the Rich Stop Bashing the 99%, Jamie
fair is fair, after all.
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wordpix Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 08:18 PM
Response to Reply #1
33. 25 highest paid men, poor Jamie is only #19
Edited on Wed Dec-07-11 08:24 PM by wordpix
http://money.cnn.com/galleries/2007/fortune/0709/galler...

19. Jamie Dimon
Chairman of the Board, President and CEO
J.P. Morgan Chase & Co. (JPM)

2006 Total compensation: $41.2 million


http://finance.fortune.cnn.com/2011/02/18/jamie-dimon-b... /

Jamie Dimon, bonus king

By Colin Barr February 18, 2011: 10:09 AM ET

The recession is officially over for Jamie Dimon.snip

Dimon got $12 million in stock options, half of which vest next year and the rest the year after, and $5 million in stock appreciation rights that start becoming exercisable next year. Dimon won't be able to cash them all in for a decade.


Scraping by
Odds are that he won't run out of money before then, however. Dimon took just $1.3 million in compensation for 2009, according to the latest available JPMorgan pay data, including $1 million in salary. But in the two years prior his compensation clocked in at $36 million and $29 million.

His 2010 haul may not approach those figures, but the Financial Times reports that Dimon will get a cash bonus for the first time in three years. If you hadn't noticed, it is back to business as usual on Wall Street. snip


:shrug: So his fed tax is $39%, which is really not much more than a middle class worker's tax, somewhere between 20-30%.
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Dont call me Shirley Donating Member (396 posts) Send PM | Profile | Ignore Wed Dec-07-11 05:13 PM
Response to Original message
2. Wah Ha Ha Wah Wah, Jamie Demon
You can dish it out but you can't take it, just like all your other psychopathic buddies
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Enrique Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 05:15 PM
Response to Original message
3. "successful"
John Gacy was very "successful" if you look at it a certain way.
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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 05:16 PM
Response to Original message
4. So, Jamie Dimon, start paying fair taxes and stop buying politicians.
If you do those two things, you will not feel sensitive about being rich.

As we used to say, Jamie Dimon, if the shoe fits wear it, if it doesn't, throw it away.

Seems you think the shoe being thrown at the greedy rich fits you. If you didn't you would not care about the shoe being thrown and those it does fit.

Jamie Dimon, you need to change your ways.

Didn't you learn to share when you were in school? Share and you will not have to worry about criticism of the rich.
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 05:25 PM
Response to Original message
5. No one would be complaining had they taken their loot
and contributed it toward starting new industries and improving the infrastructure, hiring Americans in the process.

But no, all they ever cared about was having a bigger number than the next fella.

The other 99% of us are getting sick of being bashed by the greedy rich so it's time to tax that money away from them again. It's not doing a damned bit of good in their grasping hands.
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Fool Count Donating Member (878 posts) Send PM | Profile | Ignore Wed Dec-07-11 05:45 PM
Response to Reply #5
7. No way, I would still be complaining.
They should never be allowed to "take their loot" in the first place. Why the hell should I rely on their kindness and common sense
to do the right thing? Who the hell even needs those bozos? What the fuck do they do, that any C+ average college graduate
couldn't do for 100 grand a year?
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:28 PM
Response to Reply #7
11. Whether it's the gummint or the rich plowing it back into the economy
and into the pockets of working folks is immaterial to me. The fact is that the wealthy refuse to do it, so it's up to the government to step in and take back what they stole to fix the economy they wrecked.
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Fool Count Donating Member (878 posts) Send PM | Profile | Ignore Wed Dec-07-11 06:43 PM
Response to Reply #11
16. Well, it is material to me. And it is material in a more general systemic sense too.
They may "do it" now and a year from now. They may keep "doing it" for ten or even twenty years. But what would you do when they stop "doing it"
as they can at will at any time? Ask them kindly to resume? The systemic problem will remain and will keep haunting the society until it is solved
once and for all.
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socialist_n_TN Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 08:14 PM
Response to Reply #16
31. And that is the CHIEF problem with trying to "regulate"
capitalism. IT NEVER WORKS OVER A LONG TERM. A few decades and the heat dies down and they go back to their hoarding ways and start screwing the rest of us over again.
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xocet Donating Member (699 posts) Send PM | Profile | Ignore Wed Dec-07-11 05:34 PM
Response to Original message
6. Dimon as a "Wage Earner"....
"Most of us wage earners are paying 39.6 percent in taxes and add in another 12 percent in New York state and city taxes and we're paying 50 percent of our income in taxes," Dimon said in defense of his fellow Wall Street bankers.

(http://www.cnbc.com/id/45586932 )


The JPMorgan Chase (JPM) CEO just got a $17 million stock bonus for 2010. That is the richest reward for a Wall Street chief so far this bonus season and pushes Dimon's pay back toward the levels that prevailed before the financial meltdown of 2008.

(http://finance.fortune.cnn.com/2011/02/18/jamie-dimon-b... )


I'll bet most "wage earners" would like the ability to get a stock bonus of $17 million.

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peaches Donating Member (2 posts) Send PM | Profile | Ignore Wed Dec-07-11 06:38 PM
Response to Reply #6
14. 'Fair taxes'
Even down here in my part-time job at less than $20,000-lots less-I consider myself a Proud American Taxpayer. If I were fortunate enough to be compensated as I deserve, and have an opportunity to achieve what I really can, I'd be even prouder to contribute more in higher taxes.

Even if Dimon and his like could earn the same money elsewhere, they'd still want to be here, and would be bribing and whining to that end.

America has always been the world's favorite destination because of our historical dedication to the good of the country through the good of our people. Our population has been the source of our riches, both material and cultural.

While these swine beggared our country in their gluttonous greed, we kept right on working, giving more and more to charities-who all kept saying they could not do it alone-and the hogs at the trough kept replying 'Let the charities do it.'

I'm tired of, and bored with Uberriche Pseudoamericans wailing about how hard THEY have it.

Better think about it Dimon: bored people start looking for something to keep them...Occupied!

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renate Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:50 PM
Response to Reply #14
19. nicely said!
And welcome to DU! :hi:
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 07:03 PM
Response to Reply #14
22. +1 Welcome to DU. eom.
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wordpix Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 07:47 PM
Response to Reply #6
30. "JPMorgan Chase (JPM) CEO just got a $17 million stock bonus for 2010" Waaahhhhaaa!
Poor Jamie D, if he had to pay 50% on that bonus that is a measly little net of $8.5 million. :nopity:
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Zorra Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 05:49 PM
Response to Original message
8. I'll stop bashing the rich if they stop bribing my legislators. nt
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Fantastic Anarchist Donating Member (953 posts) Send PM | Profile | Ignore Wed Dec-07-11 05:58 PM
Response to Original message
9. We don't care that you're rich, you fuckstain.
We care that you made your money by stealing it from the public. We care that you make the rules by buying Congress.

You're clueless if you don't know why people are pissed off.
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sakabatou Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:26 PM
Response to Original message
10. Lemme get out my angstrom-sized violin.
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James48 Donating Member (517 posts) Send PM | Profile | Ignore Wed Dec-07-11 06:33 PM
Response to Original message
12. He is right in this: He "just doesn't get it." n/t
Edited on Wed Dec-07-11 06:34 PM by James48
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SammyWinstonJack Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:36 PM
Response to Original message
13. These people? deliberately go out of their way too not 'get it'.
:eyes: They 'get it' alright. They're secretly hoping the majority of Americans don't, though.

And what has he contributed his 'fair share' of? Greed and corruption? That has too be it.
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Cartoonist Donating Member (188 posts) Send PM | Profile | Ignore Wed Dec-07-11 06:42 PM
Response to Original message
15. Chase is the most evil of all banks
They sued me, and due to my ignorance, they won. I am now one paycheck away from homelessness. They got bailed out, and I got sold out.
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Jack Rabbit Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:45 PM
Response to Original message
17. There is no more reason to stop bashing wealthy Jaime Dimon than to stop bashing . . .
. . . the wealthy dope smuggler who supplies your friendl, local neighborhood pusher.

They both belong in the same big house.
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SoapBox Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:46 PM
Response to Original message
18. Hey Mr. Dimwit...Occupy THIS,
*finger*
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Downwinder Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:52 PM
Response to Original message
20. Jamie, quit crying and earn your pay.
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sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 09:20 PM
Response to Reply #20
43. +1
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katty Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:55 PM
Response to Original message
21. organized by: Goldman Sachs - that's all you need to know
Edited on Wed Dec-07-11 06:55 PM by katty
"I just don't get it" - really? look outside your window once in awhile.
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Skittles Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 07:07 PM
Response to Original message
23. fuck off Jamie
you don't work as hard as the majority of the 99% but you sure suck up the rewards
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stockholmer Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 07:16 PM
Response to Original message
24. JP Morgan, to prevent a Comex default, stole MF Global funds before PM physical delivery happened
http://www.democraticunderground.com/discuss/duboard.ph...

Banker troubles?

IKEA solves them, Mr. Dimon.



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DinahMoeHum Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 07:18 PM
Response to Original message
25. Excuse me, Jamie, while I reach for the Kleenex. NOT
Edited on Wed Dec-07-11 07:18 PM by DinahMoeHum
:nopity: :nopity: :nopity:
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uberblonde Donating Member (993 posts) Send PM | Profile | Ignore Wed Dec-07-11 07:19 PM
Response to Original message
26. Acting like everyone who's rich is successful...
I just don't get it. Inherited wealth and privilege is not success.
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GaltFreeDiet Donating Member (55 posts) Send PM | Profile | Ignore Wed Dec-07-11 07:24 PM
Response to Original message
27. It's time to call out what assholes like him actually do: Virtual Counterfeiting!
$200+ trillion in derivatives? Where the fuck did that shit come from?
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muntrv Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 07:24 PM
Response to Original message
28. You got rich off the taxpayers, jackass! Of course you don't get it!
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The Second Stone Donating Member (603 posts) Send PM | Profile | Ignore Wed Dec-07-11 07:42 PM
Response to Original message
29. The big welfare banks?
The ones that borrowed 7 trillion and then loaned it back to the US for a 13 billion profit? The ones who recommended credit default swaps to their investors while at the same time selling them short? Wall Street should not try to hide behind the legitimate rich.
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Shoe Horn Donating Member (54 posts) Send PM | Profile | Ignore Wed Dec-07-11 08:17 PM
Response to Original message
32. Pffft---> 'Successfully' born to the right family.
I agree:
:nopity:

"Economic Mobility: Is the American Dream Alive and Well?"
http://www.economicmobility.org/assets/pdfs/EMP_America...
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wordpix Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 08:26 PM
Response to Original message
34. our next Treasury Sec. if Rich Mitt gets in
:banghead:
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unkachuck Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 08:59 PM
Response to Original message
35. "...that everyone who is rich is bad I just don't get it,..."
....it's simple, jamie, allow me to enlighten you....over the last thirty years, the American people have had many huge economic cocks planted up their collective ass and every one has had Republican/wall street/corporate/bankster tattooed on the head....

....even people like me, can see, feel and understand the pain and suffering the greedy, slimy, corporate criminal class has inflicted upon us, our children, our country and future....it's become too difficult to pretend otherwise....

....jamie, you need to take off your 1%er blinders and open your eyes....
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freshwest Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 09:06 PM
Response to Original message
36. Well, Jamie, it's like this. Try listening what you just said in reverse:
Edited on Wed Dec-07-11 09:09 PM by freshwest
"...Acting like everyone who's been successful is bad and that everyone who is rich is bad I just don't get it..."'

How about the generations of people who've had their livelihoods and health stolen by your friends, and that of their children and grandchildren, watching the Earth being destroyed so you can sit on a golden throne to take a dump?

They've been listening to your millions of dollar a year paid shills tell them that their lack of reward for working hard and following the rules, then not becoming 'successful and rich,' makes them nothing but beggars, losers, worthless mouths and parasites... And they should be out of sight, out of mind and actually, removed from life itself.

Walk a mile or two in their shoes. And see why they don't love you as much as they used to. And they did, at one time, see you as better and smarter, but now they see you without your Emperor's clothes of the respect they once were taught to have to make the world work. Now they know that you and your friends are a lot of brutal, self-indulgent sociopaths who are going to destroy so much of our ecosystem if you aren't stopped, it'll be game over.

What you sowed was without mercy, and so shall you reap. It's not too late to change what you're doing in the world, Jamie, and save yourself.



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newspeak Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:20 AM
Response to Reply #36
38. Jamie, when those with wealth formed a group
to stop little boot's obscene tax cut for the wealthiest in our country, were you with them? They also wanted to pay their fair share of taxes and thought little boot's had gone too far, especially, since little boot's was determined to go to war. I want to know Jamie, where were you?
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sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:03 AM
Response to Original message
37. Stop stealing form the poor.
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:23 AM
Response to Original message
39. it's time for Obama to get tough on economic terrorists like Jamie Dimon--no more appeasement
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FlyByNight Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 12:17 PM
Response to Original message
40. All of that money and still thin-skinned
Why would he care, frankly? What we want is accountability, asshole.

Shut. The. Fuck. Up.
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Evasporque Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 12:29 PM
Response to Original message
41. Easy to say when with salary and stock options you make $20,000/hr
Edited on Thu Dec-08-11 12:35 PM by Evasporque
http://www.reuters.com/article/2011/04/08/us-jpmorgan-i...

"Dimon's total compensation jumped nearly 1,500 percent to $20.8 million in 2010 from $1.3 million a year earlier, based on the U.S. Securities and Exchange Commission's compensation formula, a regulatory filing showed.

Dimon did even better in terms of the value of money and shares actually received: his salary, bonus and stock and options from grants made largely in previous years that were actually exercised in 2010 were worth around $42 million."


My partner makes $10 and hour at a national retail store...he banks at Chase...Dimon makes 2000 times more than he does.


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sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 04:34 PM
Response to Reply #41
42. +1
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lonestarnot Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 09:38 PM
Response to Original message
44. Is suing bashing?
:rofl:
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Devil_Fish Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:48 PM
Response to Original message
45. You mean THIS Jamie Dimon??
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:24 AM
Response to Original message
46. Suck it dry Dimon. eom.
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