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wordpix

(18,652 posts)
Fri Dec 30, 2011, 02:22 PM Dec 2011

Bank CEOs Earn Big Bucks Even as Stocks Get Slammed

Bank CEOs Earn Big Bucks Even as Stocks Get Slammed

Published: Friday, 30 Dec 2011 | 11:06 AM ET Text Size
By: Jeff Cox
CNBC.com Senior Writer

Banks may have gotten hammered this year in the stock market, but the CEOs who run them are doing just fine.

While the nation's biggest financial institutions saw their market capitalization drop by an average of 11.1 percent, bank CEO compensation averaged $7.74 million, according to calculations by Rochdale Securities analyst Dick Bove.

That means the banking heads earned 50 to 100 times the average worker and did much better than their shareholders, who saw bank stocks as a group plunge about 26 percent this year.

Take JPMorgan Chase [JPM 33.2144 -0.2056 (-0.62%) ]. The Wall Street titan's CEO, Jamie Dimon, will earn just shy of $42 million this year for a bank that lost nearly a quarter of its market cap—or 23 percent—during the year, according to Bove's numbers. more...

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Bank CEOs Earn Big Bucks Even as Stocks Get Slammed (Original Post) wordpix Dec 2011 OP
Can you add the link? Ruby the Liberal Dec 2011 #1
looks to be this: JHB Dec 2011 #3
Thanks! Ruby the Liberal Dec 2011 #5
Also made big bucks while laying off workers abelenkpe Dec 2011 #2
Exactly Charlemagne Dec 2011 #12
They're worth ever penny. sulphurdunn Dec 2011 #4
A parallel to our free spending congress? Islandlife Dec 2011 #6
Leave Jamie Dimon aloooooone! gratuitous Dec 2011 #7
People. People who hate people. Are the greediest people. In the world. valerief Dec 2011 #8
Here's partly why this happens Beavker Dec 2011 #9
The central bankster families running the City of London Company that owns the world come from the phasma ex machina Dec 2011 #10
Yes, and it's all for short term profits. dotymed Dec 2011 #18
But they earned it Charlemagne Dec 2011 #11
Obscene. No words. Speechless. n/t BeHereNow Dec 2011 #13
The bonus is for getting U.S. tax payers to pay the bank for the bank screwing them. Takes skill. DirkGently Dec 2011 #14
Yep. Knowing who to bribe and when, and how much takes skill. Amonester Dec 2011 #17
42 million, doesn't that guy live in Manhattan not far from Occupy. sarcasmo Dec 2011 #15
""These companies simply have no credibility." Wow, ain't that the truth wordpix Dec 2011 #16
 

Charlemagne

(576 posts)
12. Exactly
Fri Dec 30, 2011, 06:16 PM
Dec 2011

They do this crap all the time. They reduce overhead by firing people and making the remaining staff do twice the work. The staff will do it out of fear that they will be next and there are 25 unemployed people waiting to take their jobs. The CEOs, of course, are awarded huge bonuses for doing this.

 

sulphurdunn

(6,891 posts)
4. They're worth ever penny.
Fri Dec 30, 2011, 03:54 PM
Dec 2011

Just ask them. It takes extremely talented professionals of great faith and religious zeal to fuck things up for everyone else and still wallow like pigs in holy shit doing it. The "market" (the holy profit of the god Mammon) has decreed it! So, bow down unbelievers, or suffer even greater wrath beneath the golden fist of the market of Mammon!

Islandlife

(212 posts)
6. A parallel to our free spending congress?
Fri Dec 30, 2011, 04:04 PM
Dec 2011

Whose money is it anyway? Not mine I guess.

Congress gets money through taxes. I pay taxes.

Banks get money.....from congress? In some ways true.

Who else gets money(my money) from congress? Some people and projects I don't approve.

gratuitous

(82,849 posts)
7. Leave Jamie Dimon aloooooone!
Fri Dec 30, 2011, 04:23 PM
Dec 2011

Gah, don't you people understand how hard he works, and how much he deserves every penny of his $42 million this year? You're hurting his fee-fees, you heartless, unfeeling, name-calling bastards.

valerief

(53,235 posts)
8. People. People who hate people. Are the greediest people. In the world.
Fri Dec 30, 2011, 04:43 PM
Dec 2011

A little rewrite to Streisand's famous Funny Girl song.

Beavker

(823 posts)
9. Here's partly why this happens
Fri Dec 30, 2011, 05:06 PM
Dec 2011

Sure, shareholder outrage could change things, but the big shareholders are the 1% and all part of the 'brotherhood'.

So you have a Board of Directors that lets all this shit happen too. Why? Take a look at these bastards...they're just scratching the back/returning the favor/paying it forward to a fellow rich bastard. They are just hoping the board of their companies turn a likewise blind eye and keep the scam going.

http://www.jpmorganchase.com/corporate/About-JPMC/board-of-directors.htm

phasma ex machina

(2,328 posts)
10. The central bankster families running the City of London Company that owns the world come from the
Fri Dec 30, 2011, 06:12 PM
Dec 2011

same bloodline. Those in the know call them "the cousinhood."

Last week Mitten's campaign told its mass media lackeys to run a story about Myth's blood relation to a half a dozen former presidents. How crazy is that?

dotymed

(5,610 posts)
18. Yes, and it's all for short term profits.
Sat Dec 31, 2011, 10:18 AM
Dec 2011

This type of profiteering is what has brought America to it's knees. They should be prisoners not bankers

 

Charlemagne

(576 posts)
11. But they earned it
Fri Dec 30, 2011, 06:14 PM
Dec 2011

And if we keep reducing their taxes, then maybe they will start to invest in businesses and hire people.



Amonester

(11,541 posts)
17. Yep. Knowing who to bribe and when, and how much takes skill.
Sat Dec 31, 2011, 01:47 AM
Dec 2011

I bet it took them years to figure out how.

wordpix

(18,652 posts)
16. ""These companies simply have no credibility." Wow, ain't that the truth
Sat Dec 31, 2011, 01:35 AM
Dec 2011

and anyone investing in them is investing in the likes of Jamie Dimon making $42 million/year while the company's worth plummets.

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