Washington Mutual Preferred fka WAMPQ

[uzualsuzpect]

Does anyone have the quote in the opinion that JPMC would be devastated IF they pay back?

Record bonus pot at JP Morgan

JP Morgan Chase is set to defy calls for constraint over bankers' bonuses this week when it delivers an expected $29bn (£18bn) compensation pot for its executives

By James Quinn 9:27PM GMT 09 Jan 2010
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The banking conglomerate, which will on Friday be the first Wall Street bank to report its fourth-quarter results, is on track to offer the record pay-out thanks to a resurgence in investment banking.

Analysts estimate that the world's biggest banks will pay more than $65bn to their staff over the next fortnight despite efforts by governments in Europe and the US to restrict excessive remuneration.

JP Morgan's pay-out looks set to be the highest ever offered by the bank. Based on analyst consensus, it will be 28pc up on 2008 and 2007 levels, in line with a 50,000 increase in staff, accumulated when it swallowed up Bear Stearns and Washington Mutual.

The investment bank's refusal to rein back bonuses is likely to be seen as an act of defiance both by the US and UK governments. Jamie Dimon, JP Morgan's chairman and chief executive, personally complained to Chancellor Alistair Darling over the new 50pc windfall tax on bonuses.

The US bank is also thought to be considering whether to drop its plans to build a European headquarters in London for £1.5bn because of the tax.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6958528/Record-bonus-pot-at-JP-Morgan.html