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