Dividends Will Enrich Bank Chiefs

[Snoutport]

Source: N Y Times

Even as ordinary investors look forward to the prospect of larger dividend payouts by the big banks, another group is poised for a rich payday: bank chief executives. In the next few days, the Federal Reserve is expected to give a handful of institutions, including JPMorgan Chase and Capital One, permission to pay higher dividends, another sign of the remarkable comeback of banks since the depths of the financial crisis.

Jamie Dimon, chief executive of JPMorgan Chase, stands to eventually reap nearly $6 million a year in dividend payments from the stock he owns, an amount that equals almost a third of his total pay in 2010. Capital One’s chief executive, Richard D. Fairbank, could earn nearly $3 million a year as the credit card giant weighs a similar move.

Read more: http://www.nytimes.com/2011/03/17/business/17dividend.html?hp

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Phew! I was so worried those bank CEOs weren't gonna be able to get their bonuses this year!

[Angry Dragon]

1. That is just dividends on stock ......... the bonuses will come later

[msongs]

2. yeah when they all get jobs in the obama administration helping with fiinances lol nt

[Snoutport]

3. no doubt.

I just don't understand how the bankers are just gonna get away with it. If we don't pay a parking ticket we can go to jail! They can rob everyone blind and not worry a bit.

[Snoutport]

4. paid for by poor people's bank fines and fees...

[aquart]

5. Things will be so much better if we start jailing them.

I prefer hanging but I am willing to negotiate down from the gibbet.

[Snoutport]

9. they should be in jail!

how do we, as people, get that happening?

[JJW]

6. Do they need that kind of money in jail?

These are criminals and need to be sent to prision.

[unblock]

7. dividend the government's money out to owners rather than lend multiples out as intended

there couldn't be more transparent evidence that pouring trillions into the big banks was never about "getting them lending again".

it was about preserving the big institutions and the well-being of huge corporate campaign contributors.

[No Elephants]

8. Forests will disappear if we have one news story for each thing that enriches bankers, Wall Street

and big business.

Let me bottom line it. The top 2% own most of America. The next 8% own the rest, for all intents and purposes. Guess from whom they got it? Guess who enabled them?

Their buying power has increased considerably in the last 30 years (purely coincidentally, no doubt, lobbyists in D.C. began increaseing exponentially after 1980). Everyone else's buying power has remained flat or gone down.


What have Americans done about this? Remained oblivious or whined. Nothing remotely effective, except maybe in Wisconsin. We'll see who wins that one in the end.

Own it, then embrace it or change it.

P.S. Posting, signing online petitions and sending emails to members of Congress, while appealing because they require minimal effort and no $ of us, are not going to change anything. In fact, by giving us the illusion of doing something, IMO, these these retard any change.