Jamie Dimon Survives Attempt in Tampa to Remove Him as JPMorgan Chase Chairman
Jamie Dimon is still the head of the country's largest bank. Just days after he revealed JPMorgan Chase lost nearly$2.5 billion because of bad trades, shareholders today decided not to remove him as chairman of the board.
" Banks got bailed out, we got sold out..." wailed a handful of protesters, who greeted more than 300 shareholders outside JP Morgan Chase's regional office in Tampa.
Shareholder Lisa Lindsley of the American Federation of State, County and Municipal Employees failed in another motion to appoint an independent accounting firm to look at the company's finances.
"Wall Street's already driven our economy into a ditch once, these derivative bets are just the same kind of thing that AIG did, and they're still allowed to go on," she says, "and I don't think the financial sector has learned anything from the crisis."
Most of the ballots were cast by shareholders before JPMorgan Chase CEO Jamie Dimon revealed the trading loss.