Effects of Departure from Ideal Proportions - art by Paul Bond
Whenever the crimes and scandals of the banks come up, J.P. Morgan is always right in the middle.
That's because they are one of the supposed 'owners' of the Federal Reserve, possibly falling under the umbrella of the Bank of England and are a main player in the world wide schemes of theft.
James Dimon is the CEO of J.P. Morgan and has a big responsibility in maintaining the globalist central banker control of world economies.
ABC News Reports:
James Dimon, chief executive officer, JPMorgan Chase & Co.2007 Compensation: Salary of $1 million plus $14.5 million bonus and $13 million in stock awards.
JPMorgan TARP Funding: $25 billion
In early 2008, as the fissures in the financial system first started to show and banks began to collapse, Dimon, CEO of JP Morgan Chase and one of the toughest negotiators on Wall Street, saw an opportunity.
When Bear Stearns faced bankruptcy in March 2008, Dimon struck a deal to buy Bear for $2 a share -- later increased to $10 a share, a tenth of its closing price.
As Dimon, 53, closed the Bear deal that spring, he began to eye Washington Mutual, a teetering giant brought to its knees by bad mortgages. By September 2008, after a summer of plummeting house prices, the savings and loan giant was seized by federal regulators, resulting in the largest bank failure in U.S. history. JPMorgan Chase paid $1.9 billion in an emergency sale of WaMu, taking over the troubled bank's bad mortgages and credit card loans and assuming $31 billion in loses that would have otherwise been paid by taxpayers. In doing so, JP Morgan Chase took over WaMu's hundreds of bank branches, leaving Chase with the second largest nationwide franchise.
Dimon has been vocal about holding governments to task for the economic meltdown, but his spending has also come under scrutiny: Dimon ran up a $211,182 tab for private jet travel last year, when his family lived in Chicago and he was commuting to New York.
Bowing to public and political pressure, Dimon, like many of the CEOs whose companies were benefactors of the government bailout, agreed not to receive a bonus last year.
JP Morgan Chase has received $25 billion in TARP money, but would not reply to ABC News' questions last month about how those taxpayer dollars were being spent.
Earlier this month, Dimon was the only head of a U.S. bank to attend the annual World Economic Forum, which brings together executives and policymakers in Davos, Switzerland.
He said financial institutions needed to accept some responsibility for the crisis, but he put much of the blame on regulators.
"JPMorgan would be fine if we stopped talking about the damn nationalization of banks. We've got plenty of capital. To policymakers, I say where were they?" he said during the conference. "They approved all these banks. Now they're beating up on everyone, saying, 'look at all these mistakes, and we're going to come and fix it.'" source
ABC 'News' does not mention that James Dimon is jewish and a possibly a billionaire.
At Muckety there is an interactive map of the Michelle Obama, James Dimon relationships
where someone seems to care about these connections.
Today before Congress Dimon spoke:
"The devil is in the details," JPMorgan Chase chief executive James Dimon said at a House of Representatives hearing, as he and seven other bank bosses defended their conduct in the US banking meltdown.
Dimon said he wanted to hear more from Treasury Secretary Timothy Geithner, especially on a key component of the plan designed to shore up the stricken housing market.
But he said: "I do think that if all these things are done well and properly, it will have a very beneficial impact on this country ... and start to turn this thing around." source AFP
The 'devil is in the details,' OK, that's one thing I'll believe coming from Dimon's lips.
The details are that the Federal Reserve, the Treasury with Geithner, J.P. Morgan and the whole Obama administration are an intertwined serpent ready to pounce on the public for a poisonous bite from which we may have a hard time recovering.