Jamie Dimon, the guy who runs JP Morgan Chase, won’t request a bonus this year, a “person close to the matter” has told Reuters. That person is most likely an official spokesperson for Dimon.
The reaction to this news may come as a surprise to Dimon. Although bonus foregoing is all the rage on Wall Street this year–with the heads of Morgan Stanley, Goldman Sachs Group and Merrill Lynch all not receiving a bonus–Dimon’s decline has some wondering if this portends more bad news for the bank. In a recent interview with Erin Burnett, Dimon described the past few months as terrible for the bank.
“Could J.P. Morgan be sitting on some assets that, when they go bad, people will question why in the hell Dimon took his bonus if he knew this was coming?” the Dealbreaker blog asked this morning.
On the other hand, Dimon is almost notorious for talking down expectations about JP Morgan’s performance. So it’s very possible that his comments to Burnett were simply an attempt to set analyst expectations very low. And declining a bonus is probably just a good public relations move in this year of the bailout.
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