JP Morgan Chase CEO to Get Pay Raise After Federal Fines

NY Times reports the bank's board voted to increase Jamie Dimon's compensation a year after it was cut.
3:00 | 01/24/14

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

More information on this video
Enhanced full screen
Explore related content
Comments
Related Extras
Related Videos
Video Transcript
Transcript for JP Morgan Chase CEO to Get Pay Raise After Federal Fines
Talk from -- about Jamie Dimon chairman CEO of one of the world's biggest banks JPMorgan. After paying close to twenty billion dollars in -- the -- last year. He's getting a race. Is getting a raise. He seems to be getting a raises -- New York Times reported the board has decided to lift his compensation off last year's levels so the context of -- this is last year they cut his annual pay in half. As essentially you know a reaction to the big trading loss they had in London -- -- London well trade. And all the various other missteps. That JPMorgan had taken under his watch and so the argument among the board this year was book was that enough the stocks at an all time high -- the companies remain very profitable. He's navigated JPMorgan one way -- another through a lot of these regulatory problems many of which started either before he got there or at a firm that he bought. During the crisis because he was more or -- asked to so I think all those things came into the mix and also for contacts. Last year's -- for hand. Was running around half the level that is kind of -- CEOs have been paid this year. So I think the argument as we continue to quote penalize them with eleven million dollars this year. Or do we bring him somewhere back up in to his side into the range of his immediate care. Let me ask you summit because it is main street at this point is they're sort of thing is fine fatigue. I mean has an idea Americans just kind of stood -- that they -- hear about a story like this and it almost becomes a commonplace. -- while the numbers certainly kind of can blind you mean you don't really have a conception of the size of these numbers and where's the money go and all these other questions so yes I do think that it's gone off for so long and we're still kind of you know in this rectification. Mode for the missteps before the crisis in during the crisis. That you know here we are -- -- five years later and still trying to -- -- what I do think. That the average person is if if there are inclined to do so they've said look. The banks were bailed out maybe they shouldn't of -- people get paid too much I know that I get it but I don't necessarily have to you kind of hear about it all the time and.

This transcript has been automatically generated and may not be 100% accurate.

{"id":21656927,"title":"JP Morgan Chase CEO to Get Pay Raise After Federal Fines","duration":"3:00","description":"NY Times reports the bank's board voted to increase Jamie Dimon's compensation a year after it was cut.","section":"Business","mediaType":"Default"}