Bankers Join Billionaires to Debunk "Imbecile' Attack on Top 1%Quicklink submitted By Amanda Lang Permalink
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JP Morgan received a $12 billion bailout, so it pretty cocky of them to be touting their 'success'
(image by Kristen Cavanaugh for Flickr) License DMCA
|Jamie Dimon, the highest-paid chief executive officer among the heads of the six biggest U.S. banks, turned a question at an investors' conference in New York this month into an occasion to defend wealth.
"Acting like everyone who's been successful is bad and because you're rich you're bad, I don't understand it," the JPMorgan Chase & Co. CEO told an audience member who asked about hostility toward bankers. "Sometimes there's a bad apple, yet we denigrate the whole."
Dimon, 55, whose 2010 compensation was $23 million, joined billionaires including hedge-fund manager John Paulson and Home Depot Inc. co-founder Bernard Marcus in using speeches, open letters and television appearances to defend themselves and the richest 1 percent of the population targeted by Occupy Wall Street demonstrators.
Read what these poor, misunderstood, bailed-out bankers had to say about the other 99%.