Sen. Brown Asks Dimon Why He Makes So Much Money

The transcript discusses the decline in bank lending during the pandemic, despite the need for loans by small businesses and families. It questions the decision of banks to focus on stock buybacks instead of lending. The bank's response highlights their ability to do both, citing PPP loans and a large small business portfolio. A comparison is made with community banks, which increased lending. The discussion shifts to CEO compensation, questioning the justification for high salaries compared to lower-paid workers.

What was the primary reason given for the decline in bank lending during the pandemic?

• Banks were focusing on stock buybacks.

• Banks were short on funds.

• Businesses did not need credit.

• Interest rates were too high.

How did the Paycheck Protection Program (PPP) affect loan demand?

• It had no impact on loan demand.

• It increased the demand for loans.

• It reduced the demand for loans.

• It made loans more expensive.

What alternative use of funds was suggested instead of stock buybacks?

• Reducing interest rates.

• Expanding overseas operations.

• Paying workers more.

• Investing in new technology.

What is the approximate starting wage at JPMorgan Chase mentioned in the discussion?

• $40,000

• $30,000

• $35,000

• $25,000

What is the ratio of CEO compensation to the lowest-paid worker at JPMorgan Chase?

• 800 or 900 times

• 1000 times

• 600 times

• 500 times