Bank Execs to Congress: We Are Lending

Plus, see what other CEOs made in 2010

(NEWSER) - Jamie Dimon had a pretty decent year: The JPMorgan CEO, who steered his bank through Wall Street's meltdown and saw it emerge as arguably the healthiest US bank, took home $20.8 million last year. That's up roughly 1500% over his $1.3 million compensation package the year before, notes Reuters. More»

Compares bank CEOs to overpaid baseball players

(NEWSER) - Barack Obama says he’s down with the combined $26 million in bonuses that the CEOs of Goldman Sachs and JPMorgan are getting paid this year. “I know both those guys; they are very savvy businessmen,” Obama tells Bloomberg. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free-market system.” More»

Banks to be ordered to reveal numbers of millionaire staff

(NEWSER) - British bankers will soon face the toughest bonus rules in the world, according to the author of a report the government is pushing to implement. Bonus payments will be delayed for up to 5 years under the planned legislation, and banks will have the power to "claw back" bonuses in the event of misconduct, Bloomberg reports. More»

(NEWSER) - US bank CEOs are paid drastically more than their counterparts around the world. The CEO of Commercial Bank of China, the largest bank in the world, brings home just $234,700 a year—or roughly 2% of JP Morgan boss Jamie Dimon’s $19.6 million haul. The US has only four of the world’s 20 biggest banks, but all four are among the top six in CEO compensation, says a Reuters analysis. More»

(NEWSER) - The Obama administration intends to push for “very, very substantial change,” in the way Wall Street pays executives, Treasury Secretary Tim Geithner tells Bloomberg. “I don’t think we can go back to the way it was,” he said, arguing that the current big-bonus status quo encourages too much risk-taking. The changes will be part of the administration’s larger regulatory overhaul. More»