Even in these tempestuous times, some things are still predictable. Bank CEOs still plead poverty after receiving billion-dollar favors from the government. And there are apparently still reporters who take their word for it.
Recently a lawsuit was filed against JPMorgan Chase which details massive investor fraud at Bear Stearns, the firm it acquired at the government’s request - and at considerable public expense - during the 2008 crisis. And right on time, JPM CEO Jamie Dimon ran to reporters to claim that his bank really lost money on that extraordinarily cushy deal.
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