Despite $35 Billion Crime Spree Head Of JP Morgan Is Now A Billionaire And Not In Jail


Despite $35 Billion Crime Spree Head Of JP Morgan Is Now A Billionaire And Not In Jail

For common folks crime doesn't pay, but if you're the head of a too-big-to-fail criminal racket known as a bank, in this case JP Morgan, it certainly does. And quite handsomely.

Bloomberg, which tracks those with a net worth over $1 billion, added Jamie Dimon, head of JPMorgan Chase & Co., to its rich list with a net worth of about $1.1 billion.

Dimon’s fortune derives from presiding over the bank as it committed a crime spree for the ages and was bailed out for taking excessive risks with the money of main street Americans.

To recap, here's a list of the crimes committed under his leadership:

  • Misleading CDO Investments, $153.6 million, Settled on 6/21/2011
  • Anticompetitive Conduct in Municipal Bonds, $228 million, Settled on 7/7/2011
  • Foreclosure Abuses and “Robo-Signing”, Settled on $5.29 billion, 2/9/2012
  • More Mortgage Misrepresentation, Settled on $269.9 million, 11/16/2012
  • Improper Foreclosures Pt. 2, Settled on $1.8 billion, 1/1/2013
  • Electricity Trading Scandal, Settled on $410 million, 7/30/2013
  • Illegal Credit Card Practices, Settled on $389 million, 9/19/2013
  • The London Whale, $920 million, Settled on 9/19/2013
  • The Fannie and Freddie Fines, $5.1 billion, Settled on 10/25/2013
  • Institutional Mortgage Securities, $4.5 billion, Settled on 11/15/2013
  • Misleading “Toxic Mortgages”, $13 billion, Settled on 11/19/2013
  • Libor Rigging Scandal, $108 million, Settled on 12/4/2013
  • Madoff Retribution, $1.7 billion, Settled on 1/6/2014
  • Currency Manipulation, $1.34 Billion, Settled on 11/21/2014
  • Total fines over three years: $35,241,500,000

    Total bailouts since 2008: $25,000,000,000

    Jamie Dimon Net Worth: $1,100,000,000

    It's worth noting that these fines understate the magnitude of the crimes as the company pays less in fines than it made off the criminal acts.

    All of which begs the questions:

    How has this man been allowed to get this rich instead of going to jail?

    And

    Why is JP Morgan not deemed to be a criminal enterprise?

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