Jamie “Richer than you” Dimon gives Krugman a run for stupidity, calls the end of bitcoin (like a London Whale Teapot), Meanwhile JPM tries to copy bitcoin
Well now, Dimon got a raise for being an arse: zerohedge http://www.zerohedge.com/news/2014-01-24/jamie-dimon-gets-pay-raise-after-raking-25-billion-legal-fees
Earlier this week we reported that at JPMorgan, the many will pay for the crimes of the few, after the bank revealed that compensation for most workers would be flat with 2012, and no raises were planned for the bank’s employees as a result of the massive, $20+ billion legal bill the bank has raked up in recent months as one after another market manipulation, fraud and malfeasance by current and former JPM workers has been revealed. One person, however, will be exempt from this blanket punishment: the firm’s CEO Jamie Dimon, of course. Because there is always a reason Jamie is richer than you…
So what was the premise for the Dimon majority faction on the board to give him a raise?
“Mr. Dimon’s defenders point to his active role in negotiating a string of government settlements that helped JPMorgan move beyond some of its biggest legal problems. He has also solidified his support among board members, according to the people briefed on the matter, by acting as a chief negotiator as JPMorgan worked out a string of banner government settlements this year.”
Well, “active role in negotiating settlements” sure is a new way to describe lying before congress about tempests in teapots. But at this point we are all well beyond the laughing stage. As for JPM’s workers: we are confident they are delighted that while they get paid the same, their uberboss can afford one more fifth home.
Well, hopefully, bitcoin will destroy all central banks, and jpmorgan with it
Exhibit A: Jamie “Richer than you” Dimon shows how he is able to be “richer than you” despite being an idiot, do stupid stuff and let the governments bail you out with the people’s money.
Case in point: http://www.bloomberg.com/quicktake/the-london-whale/
Jamie “Richer than you” Dimon called the London Whale a tempest in a teapot, before the London Whale made JP Morgan a teacup in its tempest.
Meanwhile Jp morgan is trying to rip the bitcoin and file patents. London Whale Coins coming soon? Each causing JP Morgan a $6 billion loss per trade?