Dimon: 'I was dead wrong'

Jun 13, 2012 | Posted by: roboblogger | Full story: Politico

JPMorgan Chase CEO Jamie Dimon told lawmakers Wednesday he was "dead wrong" when he initially dismissed reports of trading irregularities that ultimately ballooned into billions in losses for the bank.

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Since: Oct 08

Alpharetta, GA

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#1
Jun 13, 2012
 

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was he the one that was sleeping with Barney Frank?
harvey

Columbus, OH

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#2
Jun 13, 2012
 

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That's good of him to say, but he and a lot of other Wall St. greedheads should be in JAIL, not still running their corrupt gambling firms and trying to tank the world's economies AGAIN.

Let's see Jamie in an orange jumpsuit...:)

Since: Dec 07

Palestine, TX

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#3
Jun 13, 2012
 

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The only one trying to tank the world's economies is nobama's biggest supporter----George Soros.
harvey

Columbus, OH

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Jun 13, 2012
 

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Blueballs-Thistle wrote:
The only one trying to tank the world's economies is nobama's biggest supporter----George Soros.
Wrong, of course. He made a move on the British pound a decade or so ago and made a killing on it. But it's Wall St. which has tanked the world's economies.

Soros has forgotten more about economics than you'll ever know. Sucks, huh?:)

Since: Dec 07

Palestine, TX

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#5
Jun 13, 2012
 

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hairballs wrote:
<quoted text>
Wrong, of course. He made a move on the British pound a decade or so ago and made a killing on it. But it's Wall St. which has tanked the world's economies.
Soros has forgotten more about economics than you'll ever know. Sucks, huh?:)
You left out Greece, Spain, and Italy on that list. Must suck to be a stupid liberal follower with a ring in your nose that ol' soros pulls for you.

Soros is the only person in history who had enough money and power and who destroyed 4 Countries currency- and their economies. I guess those were his little experiments now he is going after the big one! America!

György Schwartz, better known to the world as George Soros, was born August 12, 1930 in Hungary . Soros’ father, Tivadar, was a fervent practitioner of the Esperanto­a language invented in 1887, and designed to be the first global language, free of any national identity.

The Schwartz’s, who were non-practicing Jews, changed the family name to Soros, in order to facilitate assimilation into the gentile population, as the Nazis spread into Hungary during the 1930s.

When Hitler’s henchman Adolf Eichmann arrived in Hungary , to oversee the murder of that country’s Jews, George Soros ended up with a man whose job was confiscating property from the Jewish population. Soros went with him on his rounds.

When George Soros speaks, people in the markets listen. He made quite a bit of money, to the tune of billions, on currency speculation. Often, he was speculating that the currency of a country would go down. To quote Peter Schweizer in Do As I Say (Not As I Do)“When a nation’s currency crashes, hurting an entire country, Soros makes billions.” Sometimes he would speculate that one currency would go down as another went up, such as when he said he would not speculate on the franc, which went down because Soros published an article saying he wouldn’t, then the Dutch kroner went up. Yup, he had money riding on the kroner doing just that.

He's known as the man who broke the Bank of England. The prime minister of Malaysia called Soros an "unscrupulous profiteer." In Thailand, he was branded the "economic war criminal." They also said that he sucks the blood from people. Nov 11, 2010

The universe is laughing behind your back.

Not to worry----Bush stopped him for awhile, that's why Soros campaigned so hard against him. Romney will stop him for good.

Hang in there, toodles.
TIN POT DICTATOR OBAMA

Wasilla, AK

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#6
Jun 13, 2012
 

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inbred Genius wrote:
was he the one that was sleeping with Barney Frank?
AHAHAHAHA Post of the DAY AHAHAHAHAH
TIN POT DICTATOR OBAMA

Wasilla, AK

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#7
Jun 13, 2012
 

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I was DEAD WRONG

so were 300,000 ACORN dead babies, dead addicts and dead civil war soliders.
Ex-GOP Con

San Jose, CA

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#8
Jun 13, 2012
 

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John Boehner: "We are not going to raise taxes on the very people that we expect to reinvest in our economy and to help grow jobs."

So are the "job creators" creating jobs or not? Are they failing their economic duties or should the government step in and fulfill their duties?
Ex-GOP Con

San Jose, CA

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#9
Jun 13, 2012
 

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What has Rich Money and his 1% so-called "job creators" been doing the past 10+ years with the tax savings? They’ve been rewarding each other for failures instead of reinvesting in creating jobs.

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A golden parachute has been defined as an agreement between a company and an employee (usually upper executive) specifying that the employee will receive certain significant benefits if employment is terminated. Most definitions specify the employment termination is as a result of a merger or takeover[1][2][3], also known as "Change-in-control benefits".[4] But more recently the term has been used to describe excessive CEO (and other executives) severance packages unrelated to change in ownership.[5] The benefits may include severance pay, cash bonuses, stock options, or other benefits.

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7 Of The Most Outrageous Severance Packages In Recent Wall Street History

Tom Montag

If you ever need to negotiate an exit from your current employer and have Tom Montag's number - call him.

First he left Goldman Sachs for Merrill Lynch in May 2008. Merrill Lynch bought out his remaining Goldman compensation package for approximately $10 million.

Then, when Merrill Lynch was acquired by Bank of America in January 2009, BofA bought out all of Montag's Merrill Lynch options, vested and unvested, for a value of $29.9 million.

He stayed at BofA, where he is now co-COO.

A little background on Montag: he was once one of the largest individual taxpayers in Japan and he was the one that called that one deal that totally caused the financial crisis 'shitty.'

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Peter Kraus

Peter and Tom definitely talked this thing over.

Kraus joined Merrill at the same time as Montag, with a similar buyout of his Goldman compensation package.

Kraus, however, did not stay on at Bank of America and collected his $25 million severance package.

It was rumored that his split from BofA was in part related to his 'flashy' behavior, which included brandishing his bright green blackberry in meetings.

He consoled himself by buying at $36.6 million apartment and later becoming CEO of AllianceBernstein.

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Joe Cassano

Technically, the guy who lit the fuse at AIG did decline his severance.

But only after his CEO begged regulators to allow the failed insurer to retain Cassano as a consultant at $1 million per month and public uproar ensued.

The irony of the idea that Cassano was needed for his '20-year knowledge' of credit derivatives after that same knowledge decimated AIG is enough to land him on this list.

==========
.
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Ex-GOP Con

San Jose, CA

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==========

Hank Paulson

Wait, he didn't get a severance package, right? Think again.

When he accepted President George W. Bush's nomination as Treasury Secretary, he was forced to sell his approximately $500 million dollars in Goldman shares.

Nothing wrong with that.

The real severance payment?

Because of a seldom utilized tax loophole, Paulson paid no capital gains taxes on this sale. That's right, not a single cent, saving him an estimated $200 million.

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Martin Sullivan

Not surprisingly, Joseph Cassano's old boss had a bit of an warped view of what constituted acceptable behavior.

When he was fired as CEO of AIG, Sullivan collected $47 million.

Later, he named as one of the 'Worst CEOs Of All Time' by Time Magazine.

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Stanley O'Neal

After leaving Merrill Lynch with an $8 billion write down, O'Neal left the firm with a total of $160 million.

While not technically severance pay, when Merrill claimed that the pay was for performance in previous years as CEO, questions were raised.

The assets that lead to his departure and dragged down Merrill's balance sheet to such an extent that Bank of America was called in to acquire the firm were purchased during those years when O'Neal's performance apparently merited such a massive payout.

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Chuck Prince

While Citigroup claimed in regulatory filings that it was not technically severance pay, when Chuck 'We're Still Dancing' Prince received $29.5 million in stock options, grants and perks when he left as CEO in the wake of billions of dollars in asset write downs.

He also received approximately $13 million in cash for his performance during the same year when those write downs occured.

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AND RICH MONEY'S AND PAUL RYAN'S PLAN IS MORE TAX CUTS FOR THE 1%.

DIMON IS HOPING RICH MONEY WILL RESTORE THEIR FUTURE.
Ex-GOP Con

San Jose, CA

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#11
Jun 13, 2012
 

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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.

Amply compensated

The big payday comes after the bank posted a 48% profit gain for the past year. Investors are now waiting for JPMorgan to get permission to raise its dividend, a development they hope will push the stock out of its yearlong funk.

The bonus was disclosed in a securities filing that didn't say what Dimon's salary or cash bonus were. Those figures will be disclosed next month, when JPMorgan files its annual proxy statement.

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.

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Yes....the 1% "job creating" private sector is really hurting....(eyeroll). Bonuses for failure for everyone (in the top 1%)
Gary

Bellingham, WA

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#12
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He was dead wrong, but lucky for him it won't interfere with this $50 million bonus. His wife and mistresses can breathe a sigh of relief.

Since: Dec 07

Palestine, TX

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Ex-GOP Con wrote:
John Boehner: "We are not going to raise taxes on the very people that we expect to reinvest in our economy and to help grow jobs."
So are the "job creators" creating jobs or not? Are they failing their economic duties or should the government step in and fulfill their duties?
No he didn't
Shovel ready, cash for clunkers, solyndra, fisker.........all failures.

Since: Dec 07

Palestine, TX

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Gary wrote:
He was dead wrong, but lucky for him it won't interfere with this $50 million bonus. His wife and mistresses can breathe a sigh of relief.
How many millions was it that Solyndra execs got off the backs to the taxpayers?? You left that part out, accidental we're sure.

Since: Dec 07

Palestine, TX

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Jun 13, 2012
 

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Ex-GOP Con wrote:
John Boehner: "We are not going to raise taxes on the very people that we expect to reinvest in our economy and to help grow jobs."
So are the "job creators" creating jobs or not? Are they failing their economic duties or should the government step in and fulfill their duties?
"USAF TOOK NANCY'S JET AWAY" &#65279; USAF TOOK NANCY 'S JET AWAY (verified by Snopes) The real reason that Nancy Pelosi is considering retiring is that they took her Jet away. Ah, poor baby! As a result of a Judicial Watch filing under the Freedom of Information Act, the USAF released documents detailing House Speaker Pelosi's use of United States Air Force aircraft between March 2009 and June 2010. The data are published in theJudicial Watch Verdict of December 2010, Volume 16, Issue 12. Here are the main highlights revealed by the USAF. Keep in mind that all the data below relate to United States Air Force aircraft used by one woman over a sixteen month period. Several of these flights included Ms. Pelosi's guests, such as grown children, grandchildren, various in-laws, friends and hangers-on. Over 95% of the trips were between the west coast and Washington , DC , for what you might call a commute between home and the office. READ it and WEEP!! Total trips: 85 over a 68 week period, or 1.25 average trips per week. Total mileage: 206,264 miles, or 2,427 average miles per trip. Total flying time: 428.6 hours, or an average of 5 hours per trip. Cost to the taxpayers:$2,100,744, or $27,715 per trip, or $1,285,162 per year! Cost of in flight food and alcohol:$101,429; $1,193 per trip; $62,051 per year. On one junket to Baghdad, according to the Air Force report, she had the aircraft bar stocked with Johnny Walker Red Scotch, Grey Goose Vodka, E&J Brandy, Bailey's Irish Cream, Maker's Mark Whiskey, Courvoisier Cognac, Bacardi Rum, Jim Beam Whiskey, Beefeater Gin, Dewar's Scotch, Bombay Sapphire Gin, Jack Daniels Whiskey, Corona Beer and several varieties of wine. This was obviously a very important "gubment bidness" trip. Evidence generally speaks for itself, and in Ms. Pelosi's case it speaks the language of abuse and (evidently) a serious familial drinking problem, for in a single year she and her spawn drank an amount in excess of the net income of the average employed American! When she said, "... If the stimulus doesn't pass, five hundred million people might lose their jobs...", I thought she was unintentionally revealing her ignorance. I'm now more inclined to think she was pickled. Even though she can no longer abuse the USAF, she can either fly on her broom, or fly Southwest Airlines, where bags fly free. If you are an AMERICAN citizen it is YOUR DUTY to PASS THIS ON!! Because, you won't see this reported on MSNBC.
Ex-GOP Con

San Jose, CA

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#16
Jun 13, 2012
 

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Bluebonnets-Thistle wrote:
<quoted text>
No he didn't
Shovel ready, cash for clunkers, solyndra, fisker.........all failures.
So what you're saying is the "job creators" failed to create jobs these past 10+ years with their tax savings?

Shovel ready - private sector (construction companies)
Cash for clunkers - private sector (automobile industry)
Solyndra -(cleantech)

I don't know what fisker is.

Since: Dec 07

Palestine, TX

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#17
Jun 13, 2012
 

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Ex-GOP Con wrote:
<quoted text>
So what you're saying is the "job creators" failed to create jobs these past 10+ years with their tax savings?
Shovel ready - private sector (construction companies)
Cash for clunkers - private sector (automobile industry)
Solyndra -(cleantech)
I don't know what fisker is.
Shovel ready--financed by the taxpayers passed by peelosi and the full dem congress, signed by nobama.
Cash for clunkers--------SAME thing.
Solyndra-----same thing, massive failure execs got millions of bonuses from the taxpayers by contract.

Fisker---Fisker Automotive, a California based electric car start up company that received $529 million in loans to produce two lines of plug-in hybrid cars, is laying off workers in Delaware and California. Wow, who could have predicted that this would have been a waste of tax payer money? After all, as the Lonely Conservative reminds us the electric car goes for such a paltry cost of $100,000.

Try to keep up.

The republicans----if solyndra and the others want to start a company, then do it off of investments from private firms and donars--not the fkn taxpayers. Got this time, brainiac?
Sheik Yerbouti

Jamison, PA

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#18
Jun 13, 2012
 

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All involved should be in jail. We need the death penalty for economic crimes committed by wall street sociopaths!

Since: Feb 08

Hypoluxo Fl

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#19
Jun 13, 2012
 

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Bluebonnets-Thistle wrote:
<quoted text>
"USAF TOOK NANCY'S JET AWAY" &#65279; USAF TOOK NANCY 'S JET AWAY (verified by Snopes) The real reason that Nancy Pelosi is considering retiring is that they took her Jet away. Ah, poor baby! As a result of a Judicial Watch filing under the Freedom of Information Act, the USAF released documents detailing House Speaker Pelosi's use of United States Air Force aircraft between March 2009 and June 2010. The data are published in theJudicial Watch Verdict of December 2010, Volume 16, Issue 12. Here are the main highlights revealed by the USAF. Keep in mind that all the data below relate to United States Air Force aircraft used by one woman over a sixteen month period. Several of these flights included Ms. Pelosi's guests, such as grown children, grandchildren, various in-laws, friends and hangers-on. Over 95% of the trips were between the west coast and Washington , DC , for what you might call a commute between home and the office. READ it and WEEP!! Total trips: 85 over a 68 week period, or 1.25 average trips per week. Total mileage: 206,264 miles, or 2,427 average miles per trip. Total flying time: 428.6 hours, or an average of 5 hours per trip. Cost to the taxpayers:$2,100,744, or $27,715 per trip, or $1,285,162 per year! Cost of in flight food and alcohol:$101,429; $1,193 per trip; $62,051 per year. On one junket to Baghdad, according to the Air Force report, she had the aircraft bar stocked with Johnny Walker Red Scotch, Grey Goose Vodka, E&J Brandy, Bailey's Irish Cream, Maker's Mark Whiskey, Courvoisier Cognac, Bacardi Rum, Jim Beam Whiskey, Beefeater Gin, Dewar's Scotch, Bombay Sapphire Gin, Jack Daniels Whiskey, Corona Beer and several varieties of wine. This was obviously a very important "gubment bidness" trip. Evidence generally speaks for itself, and in Ms. Pelosi's case it speaks the language of abuse and (evidently) a serious familial drinking problem, for in a single year she and her spawn drank an amount in excess of the net income of the average employed American! When she said, "... If the stimulus doesn't pass, five hundred million people might lose their jobs...", I thought she was unintentionally revealing her ignorance. I'm now more inclined to think she was pickled. Even though she can no longer abuse the USAF, she can either fly on her broom, or fly Southwest Airlines, where bags fly free. If you are an AMERICAN citizen it is YOUR DUTY to PASS THIS ON!! Because, you won't see this reported on MSNBC.
I see you're demonstrating your ability to read at the Palin level again....From YOUR source.Snopes.com ....
Claim: House Speaker Nancy Pelosi demanded the use of a "big fat 200-seat jet," which she routinely uses to travel between Calfornia and Washington....MOSTLY FALSE
After the 9/11 terrorists attacks in 2001, President George W. Bush ordered that the Speaker of the House (next in line of succession to the presidency after the vice-president) be afforded secure government transportation on military aircraft when traveling on official business, and then-speaker Dennis Hastert often used a C-20B to travel back and forth between Washington to his home state of Illinois...Pelosi's office denied that she wanted anyone to be able to travel on the plane other than those Hastert was able to bring along — security, staff, family and members of Congress going to the same airport...
Ultimately it was the House sergeant at arms, Bill Livingood, who issued the request that, if necessary, the Speaker have access to a military plane meeting the non-stop security requirements (not specifically a "larger" plane or a C-32, but simply any suitable aircraft capable of making the California-Washington run non-stop) for travel to and from her home district: According to the Air Force, she had used that larger airplane on only one occasion, when no alternative was available:......... Try to pass the reading section so you can get your GED.

xnutmegger

Phoenix, AZ

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#20
Jun 13, 2012
 

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harvey wrote:
That's good of him to say, but he and a lot of other Wall St. greedheads should be in JAIL, not still running their corrupt gambling firms and trying to tank the world's economies AGAIN.
Let's see Jamie in an orange jumpsuit...:)
Your confusing personalities.

Jaime Dimon did support Hillary and then Obama in 2008.

I don't know of any criminal activity that he has done and as a matter of fact today he said " To big to fail is wrong ". Failing backs shouldn't be saved.Dodd-Frank still allows " To big to fail " since Dems want WS money .

As to " Orange jumpsuits " former Dem NJ Senator , former Dem NJ gov'n and current Obama campaign bundler Jon Corzine should be in jail wearing an orange jumpsuit but I guess he's too busy bundling Obama money to go there.

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