The most stunning chart from today's plethora of JPMorgan investor day presentations was this one derived from the expense chart on page 22, listing the firm's various non-corporate and corporate legal expenses, as well as foreclosure related matters: in other words, the amount of money the company pays to continue operations as an implicit criminal enterprise, however without ever having to admit or deny guilt to the US department of justice, and without the resulting incarcerations. Think of it as racketeering money by Uncle Sam to allow JPM to continue operations. The number: since 2010 JPM has paid a mindblowing $29.8 billion in "one-time, non-recurring" legal fees, charges, settlements, and otherwise expenses that in theory at least should not be part of its ongoing business operations.... but are.
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3 comments:
tell me again why they are allowed to operate?
risky business considering all of their employees testing their wings lately
Can you say JP does and always has stolen from us...NWO pigs.the roots of coruption run deep and our finacial demise is coming. I dont think JP execs will be affected
The compliance officer better quit before he commits "suicide".
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