TV News LIES

Monday, Nov 19th

Last update05:20:13 AM GMT

You are here News Economy JPMorgan Chase Gets $14 Billion Per Year In Government Subsidy

JPMorgan Chase Gets $14 Billion Per Year In Government Subsidy

E-mail Print PDF

JPMorgan CEO Jamie DimonAt least some of the billions of dollars that JPMorgan Chase lost gambling on credit derivatives once belonged to you.

Outraged by Merkley’s impunity, Dimon roared that his bank only took the government’s lousy bailout money and only borrowed at rock-bottom interest rates from the Federal Reserve because the government insisted that it do so, for the sake of appearances and the good of the country. And JPMorgan is the country’s greatest hero, so it had no choice but to accept all of this free money the government was handing out. It certainly did not need it.

What Dimon did not say, however, was that JPMorgan Chase continues to get loads of free government money — probably $14 billion per year, according to number-crunching by Bloomberg, based on an International Monetary Fund study. Bloomberg’s editors write:

The money helps the bank pay big salaries and bonuses. More important, it distorts markets, fueling crises such as the recent subprime-lending disaster and the sovereign-debt debacle that is now threatening to destroy the euro and sink the global economy.

More...


Most Recent Related Stories...


List of Lowe's stores closing: 20 stores will shut doors in US next year

20 Lowe's stores Lowe's will close 51 underperforming stores in North America, the company announced Monday. The move – which includes...

US Economists Nordhaus, Romer Awarded 2018 Nobel Prize

US Economists awarded Nobel Prize The 2018 Nobel Prize for economics has been awarded to US economists William Nordhaus and Paul Romer...

The national debt and the federal deficit are skyrocketing. How it affects you

US debt and deficit are risingThe national debt is $21 trillion and counting. The federal deficit soared last year to $779 billion...

Elon Musk and Tesla to pay $40m to settle SEC case over tweets

Elon Musk and Tesla to pay $40m to settle SEC case Elon Musk is to step down as chair of Tesla for three years and pay a...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!