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President Barack Obama said he doesn’t “begrudge” the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay.
You heard Obama talking about taking paycut and bonus from CEO or whoever. However, he doesn't mind when his guys have million bonus.
Is Obama a liar and a hypocrite?
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Blankfein and Dimon took their bonuses in stock rather than cash, which Obama encouraged other corporations to do. Such compensation, he said in the interview, “requires proven performance over a certain period of time as opposed to quarterly earnings.” He said that’s a “fairer way of measuring CEO success and ultimately will make the performance of American businesses better.”
His comments come just days after 2009 bonus packages were announced for Dimon and Blankfein. Dimon, 53, led New York-based JPMorgan, the second-biggest U.S. bank, to a profit during each quarter of the financial crisis. Blankfein, 55, was at the helm when New York-based Goldman’s shares doubled last year as profit soared to a record high. The two banks were among those that repaid the bailout money they received from the government during the financial crisis.
Obama said compensation packages over the last decade haven’t always been commensurate with performance, and reiterated his call for shareholders to have a say in CEO pay.
They didn't get cash - they got stock - which means they must continue to perform well or their bonus will amount to nothing.
They both repaid their bailout money already.
Obama is still calling for shareholders to have a say in CEO pay.
Your selectivity in quoting articles never fails to amuse me.