Wednesday, January 14, 2015

Something to Know - 14 January

More news.  Yes, and it will probably keep on coming as the Republicans maneuver to try and kill past legislation, even in watered down condition, that was designed to curb abuses that caused the near melt-down of our financial system back in 2008.   The CEO of JP Morgan is claiming that the regulations are "killing us".   His company received close to 95 billion dollars in taxpayer bailout money to keep them in business back then.   Let's see some more details of this company that is straining under regulations.   Who is Jamie Dimon trying to kid?:

Big Bank Profile: JPMorgan Chase

Federal taxpayer bailout received:$94.7 billion
Lobbying fees in 9 months after bailout:$4.2 million
Campaign contributions in 2008 federal elections:$6.0 million
Profits for 1998-2008:$97.6 billion
Profits for the first half of 2009:$4.86 billion
Bank fees for first half of 2009:$3.45 billion
Change in bank account fees (2003-08):+249.5%
Percent of first half 2009 profit from fees:71%
Credit card income for first half of 2009:$3.56 billion
Median JPMorgan Chase bank teller wage:$10.58/hour or $22,006 annually
2008 CEO Jamie Dimon pay:$19.7 million (893 times median teller wage)
2008 bonus pool:$8.7 billion
First half 2009 bonus and compensation pool:$14.5 billion
Cash bonuses (top 5 execs) last 10 years:$254.9 million
Effective tax rate in 2008:-33.4%
Offshore subsidiaries in tax havens:53

Be at war with your vices, at peace with your neighbors, and let every new year find you a better man.
- -Benjamin Franklin

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