JPMorgan clawing back executive pay

JPMorgan announce claw backs in its executive pay Friday from former executives in a London office where a botched trade cost the company $5.8 billion, and counting.

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JPMorgan becomes the first bank to publicly report such pay measures, leading to questions about whether other banks will follow suit for wrongdoing by their executives. Claw backs are efforts to recover compensation paid to employees whose performance was later found to have harmed the company and shareholders.

CNBC’s Mary Thompson reports on the details of the reclaimed pay, and discusses how the losses will impact the company’s stock with Gerard Cassidy of RBC Capital Markets.