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 Key And Peele, Biracial Roots Bestow Special Comedic 'Power'

Comics Keegan-Michael Key and Jordan Peele satirize people of all races on their Comedy Central sketch show. Originally broadcast Nov. 20, 2013.
NPR

Humans Aren't The Only Ones To Go Ape Over Diets: Chimps Detox, Too

A group of Ugandan chimps has found a great way to boost their mineral intake and neutralize bitter compounds in their diet: by eating clay.
NPR

Despite High Expectations, Sentencing Reform Proposals Still On Ice

Sen. John Cornyn suggested a hearing and markup on reform proposals could be imminent. But multiple sources tell NPR that concrete language is still being hotly debated behind closed doors.
NPR

WikiLeaks Docs Purport To Show The U.S. Spied On Japan's Government

The documents also allege that the U.S. targeted Japanese banks and companies, including Mitsubishi.

Leave a Comment

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