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Pam and Russ Martens: More felonies earn Morgan CEO Jamie Dimon a $50 million bonus
By Pam and Russ Martens
Wall Street on Parade
Friday, July 23, 2021
The unthinkable is happening with alarming regularity at the Frankenbank JPMorgan Chase.
Over the last seven years, with Chairman and CEO Jamie Dimon at the helm, JPMorgan Chase has managed to do what no other federally-insured American bank has managed to do in the history of banking in the United States.
The bank has admitted to five separate felony counts brought by the U.S. Department of Justice, while regulators took no action to remove the Board of Directors or Jamie Dimon.
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Now, once again, the outrageous hubris of this board is on display. Just last fall the bank forked over $920 million of shareholders' money to settle its fourth and fifth felony counts brought by the Department of Justice, this time for rigging the precious metals and U.S. Treasury markets.
Now, in the dog days of summer, rarely a time for bonuses on Wall Street, the JPMorgan Chase board announced July 20 that it is giving Dimon 1.5 million stock options which, according to a specialist cited at Bloomberg News, have a total value of $50 million on paper. ...
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