JPMorgan Chase posts record profit, but CEO Dimon gets pay cut anyway VIDEO
Posted on January 16, 2013 at 16:08 PM EST
JPMorgan Chase & Co. reported record fourth-quarter profits Wednesday. The New York-based company (NYSE: JPM) — parent of Chase Bank, fourth largest in Colorado by deposits — posted a $5.7 billion profit for the quarter, a 53 percent rise over the same period last year. Despite the strong numbers, JPMorgan's board decided to cut CEO Jamie Dimon's total compensation in half, to $11.5 million, as punishment for his lack of oversight of a botched trade that cost the company more than $6 billion. On…