May 14, 2012 5:15 pm ET
15 May 2012 Last updated at 12:23 ET
JPMorgan's Dimon wins pay backing
The head of JPMorgan Chase, the biggest US bank, has been backed by shareholders days after it revealed a $2bn (£1.2bn) trading blunder.
The trading loss was revealed in a regulatory filing, and will dent the company's profits, although it still expects to make about $4bn this quarter.
Let’s shine a light on this alchemy. Let’s demand that JP Morgan disclose in a filing all the investments help by its $370 billion Chief Investment Office. That will give regulators, bank analysts and investigative journalists something valuable to do.
Capitalists and Other Psychopaths
By WILLIAM DERESIEWICZ
Published: May 12, 2012
THERE is an ongoing debate in this country about the rich: who they are, what their social role may be, whether they are good or bad. Well, consider the following. A recent study found that 10 percent of people who work on Wall Street are “clinical psychopaths,” exhibiting a lack of interest in and empathy for others and an “unparalleled capacity for lying, fabrication, and manipulation.” (The proportion at large is 1 percent.) Another study concluded that the rich are more likely to lie, cheat and break the law.
Capital City
Three years after the biggest bailout in US history, Wall Street lobbyists don't just have influence in Washington. They own it lock, stock, and barrel.
—By Kevin Drum | January/February 2010 Issue of Mother Jones
I first thought you wrote "backed by slaveholders . . ." Not too far off, I guess . . .
ReplyDeletelol, spot on!
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