JPMorgan CEO warns of consequences (+ on anti-bank sentiment -"I'm tired of listening to that crap")

http://www.bizjournals.com/phoenix/news/2011/05/20/jpmorgan-ceo-warns-of-consequences.html

"Failure by the U.S. to get its fiscal house in order will trigger financial consequences that will “dwarf Lehman Brothers” and seriously diminish the nation’s role as a world economic leader, Jamie Dimon told a Denver audience Thursday night.

The CEO and chairman of JPMorgan Chase, whom The New York Times dubbed “the nation’s least hated Wall Street banker,” said political talk about not raising the U.S. debt ceiling could trigger a default on the nation’s financial obligations. He said that would constitute a “moral disaster” that will be nearly impossible for the U.S. to recover from............

snip


Congress and the president have to come to grips with gross overspending by the federal government, he acknowledged. But he complained that even though half of the deficit problem involves issues the two major political parties agree on, partisan considerations are preventing progress on any of it. “Congress needs to deal with the half of it, and leave the rest of it until later,” Dimon said.

U.S. tax rates on corporate profits make the country uncompetitive with other nations of the world, driving capital and jobs overseas, he said. Noting that JPMorgan Chase has paid $100 billion in taxes to the federal government over the past 10 years, Dimon said antibanking attitudes that permeate political discussions are wrong. “I’m tired of listening to that crap,” he said............................"

You bastards created this mess and now you're trying to weasel out of any blame.

Personally, i'd like to introduce you and your cohorts to Madame Guillotine.

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:thumbsup:

If you can locate me an art-deco version, I'd be in the market.

"If we want any crap out of you little people, we will squeeze you harder. Otherwise, STFU and leave us Republicon FatCat Bankers alone while we figure out more ways to dodge taxes and go AWOL on our responsibilities to America. Bwaaa ha ha ha ha. Sneer."

- RepubliCon Bankers, Inc. (R)

Something like one-quarter of the people with jobs work to protect the wealthy and their loot. I assume that includes the Pentagon.

PS: Love the Timmy Geithner wannabe bankster bling, Spiral Hawk. Inspired!

These coporatist assholes always like to talk about tax rates that small companies pay. but ignore the consequences (getting huge tax assets, instead of liabilities) to the major corporations.

It's time to start progressive taxation on corporations, such that the smaller companies get the tax "stimulus" that these idiots keep whining for and the big coporations get taxed more. Any time a new corporate give away is proposed, some one should be slapping an ammendment on to phase it out based on size of the company. "Too big to fail" means "Too big to safely exist"

off with an ever-larger share of the actual tangible wealth. Pure upward vertical wealth consolidation.

JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money. In the video posted below, JP Morgan executive Christopher Paton admits that this is "a very important business to JP Morgan" and that it is doing very well. Considering the fact that the number of Americans on food stamps has exploded from 26 million in 2007 to 43 million today, one can only imagine how much JP Morgan's profits in this area have soared. But doesn't this give JP Morgan an incentive to keep the number of Americans enrolled in the food stamp program as high as possible?

-more-

http://theeconomiccollapseblog.com/archives/the-more-americans-that-go-on-food-stamps-the-more-money-jp-morgan-makes

"Gonna hang your body up and set your spirit free."

The person helping us was so disappointed to hear we were closing. He had the branch manager talk to us while he went to get the remaining cash in our account. They promised to check in with us in a few weeks to see how we're doing and if we've changed our minds. I'm bookmarking this thread so I can use Jamie Dimson's quote when they call.

I see no reason to help the Big Banks hurt the middle class.

What planet do these people live on?

replacing 'Tiny Tim the Tax Cheat' Geithner (of CFR, IMF, and NY Federal Reserve fame)....

:banghead:

You know, as a sign of his good faith?

After the shit JPM and the rest of your merry band of Wall Street cronies and thieves pulled by crashing our economy, the last thing you should be doing is whining to the American people about "antibanking attitudes".

If you are tired of listening to "that crap", let me assure you, most Americans are tired of listening to your arrogant BS.

If I were a cynical person, I'd guess that the bulk of those taxes to the Fed were payroll taxes, not that there's anything wrong with that unless a CEO is using those taxes to obscure the way the corporation has avoided tax on corporate income.

Apparently there is a whole separate ....world, or something, the banskters live in.

cocky lil fucker, ain't he?

and I'm ALREADY a revolutionary socialist. NOT a good time for your crap Jamie.

cycle of capitalism that allows the big boyz to come in DURING the busts (that they usually cause) and buy up everything from the lower level capitalists who have gone bankrupt. The big guys buy these assets of the smaller ones for pennies on the dollar and suck up more of the wealth. Then they start the NEXT boom cycle.

They ran out of private money to suck, so they started after "the Commons". The only way to get out of this shit is to default and not even TRY to pay back the money. Reset to zero and, basically, expropriate any real assets that happened to be built.

Just give a big "FUCK YOU" to the banks and let them fail if that's what happens.

this is Obama's "favorite banker" and regular golfing partner.

http://www.nytimes.com/2009/07/19/business/19dimon.html?src=sch

And start confessing left and right to anyone who'll listen about the faults of the Banks.

That is the only way to get people to stop talking about it.

taxes help the country .......... does he feel his bank should not help the country??
He should be investigated for un-American leanings

When they threaten to leave the country IF they're taxed fairly, they're NOT Americans. They have no country. They're capitalists.

This threat however, is the reason for a WORLDWIDE working class movement. Don't give these fuckers any developed country to turn to. If they leave, let their only choice be Somolia.

should have failed. The system needed to be cleaned out.