As to JPMorgan Chase, America's third-largest financial firm:
Net income in 2007 totaled $15.4 billion. That number would have been even higher, but the company increased provisions for losses from sub-prime mortgages and leveraged buy-out loans by $2.54 billion. Perhaps the predators got played for saps and suckers by more savvy predators over at Goldman Sachs Group.
As to Jamie Dimon, JPMorgan Chase's Chairman and CEO:
His 2005 income was $22 million. In 2006 his income increased to $27 million, including a $1 million salary, a $13 million cash bonus and stock options valued at $13 million.
Dimon also enjoyed perks, including personal use of the corporate jet valued at $375,000 and personal use of corporate cars valued at $111,000.
Indicating Dimon is frugal by nature. This indication is supported by his rationing of his daughter's bath towels to save on laundry expenses and his cancellation of corporate cell phone accounts and Wall Street Journal subscriptions for his employees to save on operating expenses.
Mr. Dimon is a typical example of parasitic elites who live high at other people's expense when times are good. And frantically lobby for their firms to be propped up and saved by the Federal Reserve when times turn bad, because of the excesses they furthered. The bills for the bailouts they urgently demand will be paid, to the tune of many billions of dollars, by the taxpayers they fleeced.
Recognize The Terrorist Enemies
Meanwhile, President Bush urges patriotic Americans to wave flags and support the troops in their government's quest to destroy the mythical terrorist gang al Qaida in their caves in Bora Bora, Afghanistan.
While far more dangerous gangs of terrorists, sanctioned and supported by that same government, maraud throughout America from their caves in the shadows of Wall Street.
Of the two, as clearly demonstrated in Erie and Bethlehem, the financial terrorists that government actively supports are much more dangerous to the safety and well-being of the nation.
Concerned citizens should carefully note the Pennsylvania enabling statute passed unanimously in both House and Senate. Living proof that partisanship takes a back seat to money, perks and favors sagely doled out by lobbyists.
Another proof legislatures aren't friends and supporters of the citizens they are elected to serve.
As President Bush famously proclaimed:
"You're either with us or you're against us."
Restated:
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8
The author is a retired professional civil and structural engineer, reformed attorney, fierce Progressive, policy junkie, vociferous reader, lifelong learner, aspiring writer and author of the crime-thriller "The Geronimo Manifesto".
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