THE DOT - if this turns orange or red be alert

Tuesday, January 12, 2010

We are tired of you stealing Taxpayers money - Moron Dimon does not get it

Dimon stole literally Bear Stearns as he paid less when even the building is worth for the biggest prime dealer operation and had the FED swollow the toxic assets of 30 bil. Before paying bonus take that junk back on your books - next pay 4 % interest instead of zero for your fundings ( retroactive for the last 18 months just financing 1 tril. 200 bp higher would cost JPM 20 bil. - I guess not a lot of profit would be left and no chance to pay any bonuses freaking idiot) which does not even match real inflation and whatever is left after that - will rather be huge losses. It is outrageous as not the talent has made the money for any bank but the cheap financing through the FED hence taxpayers at the end. The profits the FED claimed today were pure lies and part of the big Ponzi scheme the admin is running with all their paper profits on bubble prices.

excerpt

JPMorgan's Dimon 'Tired' of Attacks Over Bonuses


JPMorgan Chase Chief Executive 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, [GS 167.3467 -4.2133 (-2.46%) ] Morgan Stanley [MS 31.10 -0.94 (-2.93%) ] and other big banks, will be appearing this week before a commission created by Congress to look into causes of the financial meltdown.

JPMorgan [JPM 43.09 -1.44 (-3.23%) ] 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.

Regulators and lawmakers have pressed banks to tie compensation to longer-term performance and to pay more in stock.

JPMorgan, the second largest U.S. bank by assets, is seen as one of those that has best survived the credit crisis, but as the recession lingers it is facing rising losses across its large consumer loan portfolios.

In wide-ranging remarks, Dimon said the worst of the problems in the U.S. residential real estate market appear to be behind.

"It's not over, but I am not sure it's going to get worse," he said.

Dimon said U.S. home prices have fallen significantly, making home ownership more affordable.

Regarding the commercial real estate market, Dimon said, "commercial real estate is a train wreck but it's already happened."

Dimon also discussed regulatory matters. The CEO repeated his opinion that regulators deserve the authority to manage failures of large financial institutions, a view he laid out in November in an opinion piece in the Washington Post newspaper.

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