NPR : News

Filed Under:

JPMorgan Execs Who Bungled Billions May Have To Return Bonuses, Stock

Along with saying, again, that his bank "let a lot of people down" when it lost more than $2 billion, JPMorgan Chase CEO Jamie Dimon added this prediction during his testimony before the Senate Banking Committee this morning:

"It's likely that there will be clawbacks."

Translation: The bank will move to recover stocks and bonuses paid to the executives responsible for the losses it suffered because of some risky trades that went very bad.

According to The Associated Press, "under bank policy, Dimon said, stock and bonuses can be recovered from executives, even for exercising bad judgment. The policy has never been invoked, he said."

Dimon's prepared testimony is posted here.

The AP adds that "the start of the hearing was delayed by demonstrators in the room who shouted about stopping foreclosures. Another demonstrator shouted, 'Jamie Dimon's a crook." At least a dozen people were escorted from the hearing room."

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

For Centuries, People Have Searched For Answers In The Bottom Of A Tea Cup

The practice of reading tea leaves had its heyday during Victorian times, when fascination with the occult and self-analysis thrived. It was safer than other forms of divination, and persists today.
NPR

For Centuries, People Have Searched For Answers In The Bottom Of A Tea Cup

The practice of reading tea leaves had its heyday during Victorian times, when fascination with the occult and self-analysis thrived. It was safer than other forms of divination, and persists today.
NPR

California's Prisons Will Change Solitary Confinement Rules

The state is agreeing to stop placing inmates in solitary confinement solely because of a gang affiliation. The changes could move more than 1,500 inmates out of solitary.
WAMU 88.5

Taking Great Photos On Vacation Or "Staycation" (Rebroadcast)

Professional photographers give us the latest on cameras, smart phones and shooting tips for great vacation photos this summer -- and every day.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.