Billionaire Banker Who Received Government Bailout After Crash In '08 Whines About Socialism

[OnePercenter]

In his annual letter to shareholders, distributed last week, JPMorgan Chase CEO Jamie Dimon took aim at socialism, warning it would be “a disaster for our country,” because it produces “stagnation, corruption and often worse.”

Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.

Billionaire CEO Jamie Dimon leveled for gobbling up government handouts while whining about socialism

Yep. He really said that. With a straight face.

Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.

You know they paid that all back, don't you?
The government made a big profit.

What other socialist ever paid back their government "handout"?

JPMorgan made a big profit and got away with paying peanuts.

Dimon in the Rough

The Treasury made $1.73 billion on their short term loan to JPMorgan.

Not a handout.

And JPMorgan was able to deduct most of the cost of the payback AND get away with paying pennies in fines. Good going baby bush!

 

[Toddsterpatriot]

In his annual letter to shareholders, distributed last week, JPMorgan Chase CEO Jamie Dimon took aim at socialism, warning it would be “a disaster for our country,” because it produces “stagnation, corruption and often worse.”

Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.

Billionaire CEO Jamie Dimon leveled for gobbling up government handouts while whining about socialism

Yep. He really said that. With a straight face.

Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.

You know they paid that all back, don't you?
The government made a big profit.

What other socialist ever paid back their government "handout"?

JPMorgan made a big profit and got away with paying peanuts.

Dimon in the Rough

The Treasury made $1.73 billion on their short term loan to JPMorgan.

Not a handout.

And JPMorgan was able to deduct most of the cost of the payback AND get away with paying pennies in fines. Good going baby bush!

JPMorgan was able to deduct most of the cost of the payback

Of course, you twit, interest expenses are deductible. DURR

 

[OnePercenter]

In his annual letter to shareholders, distributed last week, JPMorgan Chase CEO Jamie Dimon took aim at socialism, warning it would be “a disaster for our country,” because it produces “stagnation, corruption and often worse.”

Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.

Billionaire CEO Jamie Dimon leveled for gobbling up government handouts while whining about socialism

Yep. He really said that. With a straight face.

Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.

You know they paid that all back, don't you?
The government made a big profit.

What other socialist ever paid back their government "handout"?

JPMorgan made a big profit and got away with paying peanuts.

Dimon in the Rough

The Treasury made $1.73 billion on their short term loan to JPMorgan.

Not a handout.

And JPMorgan was able to deduct most of the cost of the payback AND get away with paying pennies in fines. Good going baby bush!

JPMorgan was able to deduct most of the cost of the payback

Of course, you twit, interest expenses are deductible. DURR

"The $13bn penalty was chicken feed to the biggest bank on Wall Street, whose profits last year alone amounted to $35bn. Besides, JPMorgan was able to deduct around $11bn of the settlement costs from its taxable income."

PLUS:

"It’s a gift that keeps giving. Dimon took advantage of the financial crisis to acquire Bear Stearns and Washington Mutual, vastly enlarging JPMorgan. America’s five biggest banks, including Dimon’s, now control 46% of all deposits, up from 12% in the early 1990s.

And because they’re so big, Dimon’s and other big Wall Street banks are now considered “too big to fail”. This translates into a hidden subsidy of some $83bn a year, because creditors who face less risk accept lower interest on deposits and loans."

baby bush was very-very good to them.....

 

[Toddsterpatriot]

Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.

You know they paid that all back, don't you?
The government made a big profit.

What other socialist ever paid back their government "handout"?

JPMorgan made a big profit and got away with paying peanuts.

Dimon in the Rough

The Treasury made $1.73 billion on their short term loan to JPMorgan.

Not a handout.

And JPMorgan was able to deduct most of the cost of the payback AND get away with paying pennies in fines. Good going baby bush!

JPMorgan was able to deduct most of the cost of the payback

Of course, you twit, interest expenses are deductible. DURR

"The $13bn penalty was chicken feed to the biggest bank on Wall Street, whose profits last year alone amounted to $35bn. Besides, JPMorgan was able to deduct around $11bn of the settlement costs from its taxable income."

PLUS:

"It’s a gift that keeps giving. Dimon took advantage of the financial crisis to acquire Bear Stearns and Washington Mutual, vastly enlarging JPMorgan. America’s five biggest banks, including Dimon’s, now control 46% of all deposits, up from 12% in the early 1990s.

And because they’re so big, Dimon’s and other big Wall Street banks are now considered “too big to fail”. This translates into a hidden subsidy of some $83bn a year, because creditors who face less risk accept lower interest on deposits and loans."

baby bush was very-very good to them.....

JPMorgan was able to deduct around $11bn of the settlement costs from its taxable income

They shouldn't have been able to deduct the money Obama extorted from them?

This translates into a hidden subsidy of some $83bn a year, because creditors who face less risk accept lower interest on deposits and loans

I love that moronic claim.

 

[georgephillip]

In his annual letter to shareholders, distributed last week, JPMorgan Chase CEO Jamie Dimon took aim at socialism, warning it would be “a disaster for our country,” because it produces “stagnation, corruption and often worse.”

Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.

Billionaire CEO Jamie Dimon leveled for gobbling up government handouts while whining about socialism

Yep. He really said that. With a straight face.

Do you think Jaime still sees himself in the Oval Office someday?

Bloomberg News Bashes Wells Fargo While Canonizing JPMorgan Chase’s CEO Jamie Dimon, Despite 3 Felony Counts at His Bank

"Jamie Dimon, on the other hand, has presided, as CEO, over three criminal felony counts against JPMorgan Chase in just the past five years while, mysteriously, not losing his job and getting millions of dollars in raises and bonuses.

"JPMorgan Chase pleaded guilty to two felony counts in January 2014 for its role in facilitating the Bernie Madoff Ponzi scheme through the Madoff business bank account in the U.S., while telling regulators in the U.K. that the bank suspected a Ponzi scheme was occurring.

"According to a 2016 report from the Government Accountability Office (GAO), JPMorgan Chase’s own bank customers lost 'about $5.4 billion' in the Madoff scheme. The report notes:

"'In 2014, DOJ [Department of Justice] assessed a $1.7 billion forfeiture – the largest penalty related to a BSA [Bank Secrecy Act] violation – against JPMorgan Chase Bank. DOJ cited the bank for its failure to detect and report the suspicious activities of Bernard Madoff. The bank failed to maintain an effective anti-money-laundering program and report suspicious transactions in 2008, which contributed to their customers losing about $5.4 billion in Bernard Madoff’s Ponzi scheme.'"