J.P. Morgan Was The Biggest Beneficiary Of Government Support Yet Jamie Dimon Is The ONLY CEO Who Wouldn't Say "Thank You" Before Congress (Video)

Wall Street thanks Uncle Sam - Except Jamie Dimon

Secret Fed Loans Helped JP Morgan - Bloomberg

$7.77 Trillion

The amount of money the central bank parceled out was surprising even to Gary H. Stern, president of the Federal Reserve Bank of Minneapolis from 1985 to 2009, who says he “wasn’t aware of the magnitude.”

“TARP at least had some strings attached,” says Brad Miller, a North Carolina Democrat on the House Financial Services Committee, referring to the program’s executive-pay ceiling. “With the Fed programs, there was nothing.”

Jamie Dimon told shareholders in a letter that his bank used the Fed’s Term Auction Facility "at the request of the Federal Reserve to help motivate others to use the system."

He didn’t say that the New York-based bank’s total TAF borrowings were almost twice its cash holdings or that its peak borrowing of $48 billion on Feb. 26, 2009, came more than a year after the program’s creation.

Comments

[ricoyung]

Monsters, all of them.

[rccoop]

Why should Jamie Dimon say, "Thank you?" Do rapists say, "Thank you," to their victims?

[Vladimir]

An economic RECOVERY will begin when there is a BANKER hanging on every street corner.

[LiberatedCitizen]

lol Jamie Demon tells Obama how to talk to bankers and with all the donations they gave him he is happy to oblige he's Obama's favorite banker

http://www.opensecrets.org/news/2009/07/jpmorgan-ceo-jamie-dimon-donat.html

http://www.economicpolicyjournal.com/2009/07/president-obamas-favorite-banker.html