Jamie’s Cryin’: Dimon says he’s tired of complaints about banker pay and bonuses
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Another day, another classic VH tune fits the lede, Jamie Dimon is pushing back against the ‘rising populist tide’ in re banker bonuses and pay. If you have been here before, you know we are big fans of Jamie and wanted him for Treasury Secretary. We like that he is a fighter.
But we also know the banking industry and Wall St selected obama as their candidate for a reason, and since it is Obama ginning up the faux populism and then slamming we Tea Party Patriots for being concerned about Government spending, well, Jamie needs to talk to the WH, not the people, WE are not the problem…..
…Jamie Dimon defended the bank’s pay policies on Monday and said he was “tired” of his employees being vilified over bonuses.
Rising bonuses have drawn criticism from politicians and others, who complain Wall Street’s losses seem to be socialized while its profits are privatized.
Dimon, along with the chief executives of Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) and other big banks, will be appearing this week before a commission created by Congress to look into causes of the financial meltdown.
JP Morgan pays its employees for sustained performance over multiple years, Dimon said on Monday.
“We do not have change-of-control agreements, special executive retirement plans, golden parachutes, special severance packages or merger bonuses,” he told a JP Morgan healthcare conference, adding that many of company’s employees are in client-facing jobs and work hard with small and mid-size businesses.
“I am a little tired of the constant vilification of these people,” he said….
PS Jamie says Commercial R.E. is a ‘train wreck’ but we knew that was coming…..