Fueling the Fire
Um, I think THIS is exactly the kind of thing that has fueled Americans' hatred of banks, disgust with Wall Street and the Occupy Wall Street movement.
Take a look at this chart of J.P. Morgan Chase's stock over the last two years.
As you can see, the stock actually delivered a slight loss in 2010. And so far in 2011, well, things are even uglier with the stock down 18.5%.
Yet, JP Morgan Chase CEO Jamie Dimon's pay for 2010 skyrocketed 1,541%.
That's not a typo... Dimon made $20.8 million last year.
Now, don't get me wrong, I have NOTHING against a highly successful CEO getting paid big bucks when they create shareholder value.
But 1,541% raise for losing investor's money... that doesn't add up. And it's fueling a very dangerous mistrust and resentment for CEOs, America's corporations and Wall Street.