This page contains a single entry from the blog posted on October 28, 2011 2:44 PM.
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"This week’s credit check: A record 43.6 million Americans are using food stamps. JPMorgan’s segment that makes food stamp debit cards made $5.47 billion in net revenue in 2010.
You might think that if you’re on food stamps, big banks won’t be very interested in you. What could they possibly want with someone who’s struggling just to put food on the table? But it turns out that you’re actually part of a profitable business for big bank JPMorgan. While the money to pay for the stamps comes from the government, the technology to access it lies in private hands. Food stamps used to be literally stamps — that is, pieces of paper — but in this day and age paper is so old fashioned. Now you get your food stamps with a debit card, and JPMorgan knows all about creating plastic credit products." http://www.newdeal20.org/2011/02/09/food-stamps-jpmorgan-banking-industry-profits-from-misery-35307/
"JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money." http://www.alternet.org/rss/1/446636/jp_morgan_makes_big_bucks_from_food_stamp_growth,_then_hires_workers_in_india_with_our_tax_dollars
OR, btw, is not among the states handled so profitably by JPM.
Of course, Mr Dimon does not run JPM by himself. Until earlier this year, Wm M Daley, currently Mr Obama's COS, found the company very profitable for himself:
"White House’s new chief of staff, William M. Daley, is rich — so much so that his recent earnings from JPMorgan Chase appear to give even Jamie Dimon’s pay package a run for the money.
Mr. Daley, former Midwest chairman and head of corporate responsibility for the bank, made $8.7 million in 2010 and the first week of 2011, according to a 43-page disclosure report released Friday by the White House. He became President Obama’s chief of staff in January.
In the last year, Mr. Daley’s compensation included a $675,000 salary for 2010, a roughly $3 million cash and stock bonus for 2009 and a $4.8 million bonus for 2010.
Mr. Daley already has sold more than 180,000 of his JPMorgan shares, Bloomberg News reports.
He also cashed out his pension before joining the West Wing, which brought him $6.6 million.
In January, 2010, Mr Dimon, along with three other leaders of big Wall St banks, was summoned to testify before the Financial Crisis Inquiry Commission, chaired by Phil Angelides, who received ample financial support from JPM during his political career in CA. Mr Dimon did not say much of interest, even about his acquisition of $307B of WaMu's assets for $1.88B; but he did provide a matter-of-fact suggestion of what he and his colleagues have done to this country's financial system:
Maybe Lister can get in to ask him if JPM will follow B of A and push their unfunded and uninsured mortgage debts (Washington Mutual et al)back onto the FDIC so that taxpayer once again bail out the risks taken by greedy banks and mortgage processors.
Sad thing is that the FED allows this and these banks will never be allowed fail, no matter the cost to the taxpayers.
Thanks for the heads-up on this. JPMorgan Chase gives me the heebie-jeebies for a variety of reasons, some of which have been mentioned in the comments above.
On a personal level, they committed what I consider a nearly unpardonable policy sin. My brother died unexpectedly a few years ago. A few months after his death, my parents received a robo-call from Chase which said, "If you are the executor of ______'s estate, please press 1." I happened to be at my parents' house and was the one who picked up the phone.
Needless to say (I hope), I was appalled. Adding insult to injury (why did my brother have a Chase credit card, for crying out loud), the time it took to track down Chase information to find someone who could address this policy took considerable effort. To their credit (so to speak), someone eventually did contact me.
Anyway, I'm underwhelmed by how Mr. Dimon defines strategies for the Great Casino. If I had a spare $75 lying around the house, it might be curious to hear him "share his perspectives", though. On the other hand, it just might make me want to puke. Also, I have little desire to support the PBA. Of course, what would be really fun would be to buy a couple of dozen tickets and take some of the 99%.
Charamba, Douro 2008
Horse Heaven Hills, Cabernet 2010
Lorelle, Horse Heaven Hills Pinot Grigio 2011
Avignonesi, Montepulciano 2004
Lorelle, Willamette Valley Pinot Noir 2011
Villa Antinori, Toscana 2007
Mercedes Eguren, Cabernet Sauvignon 2009
Lorelle, Columbia Valley Cabernet 2011
Purple Moon, Merlot 2011
Purple Moon, Chardonnnay 2011
Abacela, Vintner's Blend No. 12
Opula Red Blend 2010
Liberte, Pinot Noir 2010
Chateau Ste. Michelle, Indian Wells Red Blend 2010
Woodbridge, Chardonnay 2011
King Estate, Pinot Noir 2011
Famille Perrin, Cotes du Rhone Villages 2010
Columbia Crest, Les Chevaux Red 2010
14 Hands, Hot to Trot White Blend
Familia Bianchi, Malbec 2009
Terrapin Cellars, Pinot Gris 2011
Columbia Crest, Walter Clore Private Reserve 2009
Campo Viejo, Rioja, Termpranillo 2010
Ravenswood, Cabernet Sauvignon 2009
Quinta das Amoras, Vinho Tinto 2010
Waterbrook, Reserve Merlot 2009
Lorelle, Horse Heaven Hills, Pinot Grigio 2011
Tarantas, Rose
Chateau Lajarre, Bordeaux 2009
La Vielle Ferme, Rose 2011
Benvolio, Pinot Grigio 2011
Nobilo Icon, Pinot Noir 2009
Lello, Douro Tinto 2009
Quinson Fils, Cotes de Provence Rose 2011
Anindor, Pinot Gris 2010
Buenas Ondas, Syrah Rose 2010
Les Fiefs d'Anglars, Malbec 2009
14 Hands, Pinot Gris 2011
Conundrum 2012
Condes de Albarei, Albariño 2011
Columbia Crest, Walter Clore Private Reserve 2007
Penelope Sanchez, Garnacha Syrah 2010
Canoe Ridge, Merlot 2007
Atalaya do Mar, Godello 2010
Vega Montan, Mencia
Benvolio, Pinot Grigio
Nobilo Icon, Pinot Noir, Marlborough 2009
Portuga, Rose 2011
Revelation, Chardonnay, Pays d'Oc 2010
Beaulieu, Cabernet, Rutherford 2005
Monte Alto, Tinto Reserva 2005
Chateau Ste. Michelle, Cabernet, Indian Wells 2009
Espiral, Vinho Rose
Vin-Koru, Pinot Gris 2011
14 Hands, Hot to Trot Red 2009
Rodney Strong, Cabernet, Sonoma 2009
Abacela, Vintner's Blend #11
Portuga, White 2010
La Bourgeoisie, Red 2009
Januik, Red 2009
Three Rivers, River's Red 2008
Kirkland, Alexander Valley Merlot 2008
Muga, Rioja Rose 2010
Quinta das Amoras, Vinho Tinto 2009
Mauro Molino, Barbera d'Alba 2009
Garda Chiaretto Rose
Columbia Crest, Two Vines Vineyard 10 White
Chateau Ste. Michelle, Pinot Gris, Columbia Valley 2009
L'Hortus, Rose de Saignee 2010
Maculan, Pino & Toi 2008
McKinley Springs, Bombing Range Red 2008
Trader Joe's Pinot Gris 2009
Montes Alpha, Cabernet 2007
Gran Sasso, Sangiovese, Terre di Chieti 2009
Garda, Classico Chiaretto Rose
Beaulieu, Cabernet, Rutherford 1999
Picos del Montgo, Tempranillo 2008
Chateau de Montmirail, Vacqueyras 2008
La Granja 360, Syrah 2009
Montgras, Carmenere Reserva 2009
Lange, Pinot Gris 2009
Columbia Crest, Horse Heaven Hills Cabernet 2008
Kirkland, Pinot Grigio 2010
Trader Joe's Coastal Syrah 2009
Columbia Crest, Horse Heaven Hills Merlot 2008
Trader Joe's Coastal Chardonnay 2009
Vieux Papes Red
Domaine de l'Aujardiere, Chardonnay 2009
Santa Rita, Cabernet, Medalla Real 2007
Penfold's, Koonunga Hill Shiraz Cabernet 2008
Guild, Red, Lot #02 2008
Dievole, Dievolino Sangiovese 2008
Laforet, Burgogne Chardonnay 2009
Columbia Winery, Merlot 2007
Bonterra, Cabernet 2008
Elk Cove, Pinot Gris 2009
Maquis Lien 2006
Scott Paul, Pinot Noir, Le Paulee 2007
The Occasional Book
Neil Young - Waging Heavy Peace
Mark Bego - Aretha Franklin, the Queen of Soul (2012 ed.)
Jenny Lawson - Let's Pretend This Never Happened
J.D. Salinger - Franny and Zooey
Charles Dickens - A Christmas Carol
Timothy Egan - The Big Burn
Deborah Eisenberg - Transactions in a Foreign Currency
Kurt Vonnegut Jr. - Slaughterhouse Five
Kathryn Lance - Pandora's Genes
Cheryl Strayed - Wild
Fyodor Dostoyevsky - The Brothers Karamazov
Jack London - The House of Pride, and Other Tales of Hawaii
Jack Walker - The Extraordinary Rendition of Vincent Dellamaria
Colum McCann - Let the Great World Spin
Niccolò Machiavelli - The Prince
Harper Lee - To Kill a Mockingbird
Emma McLaughlin & Nicola Kraus - The Nanny Diaries
Brian Selznick - The Invention of Hugo Cabret
Sharon Creech - Walk Two Moons
Keith Richards - Life
F. Sionil Jose - Dusk
Natalie Babbitt - Tuck Everlasting
Justin Halpern - S#*t My Dad Says
Mark Herrmann - The Curmudgeon's Guide to Practicing Law
Barry Glassner - The Gospel of Food
Phil Stanford - The Peyton-Allan Files
Jesse Katz - The Opposite Field
Evelyn Waugh - Brideshead Revisited
J.K. Rowling - Harry Potter and the Sorcerer's Stone
David Sedaris - Holidays on Ice
Donald Miller - A Million Miles in a Thousand Years
Mitch Albom - Have a Little Faith
C.S. Lewis - The Magician's Nephew
F. Scott Fitzgerald - The Great Gatsby
William Shakespeare - A Midsummer Night's Dream
Ivan Doig - Bucking the Sun
Penda Diakité - I Lost My Tooth in Africa
Grace Lin - The Year of the Rat
Oscar Hijuelos - Mr. Ives' Christmas
Madeline L'Engle - A Wrinkle in Time
Steven Hart - The Last Three Miles
David Sedaris - Me Talk Pretty One Day
Karen Armstrong - The Spiral Staircase
Charles Larson - The Portland Murders
Adrian Wojnarowski - The Miracle of St. Anthony
William H. Colby - Long Goodbye
Steven D. Stark - Meet the Beatles
Phil Stanford - Portland Confidential
Rick Moody - Garden State
Jonathan Schwartz - All in Good Time
David Sedaris - Dress Your Family in Corduroy and Denim
Anthony Holden - Big Deal
Robert J. Spitzer - The Spirit of Leadership
James McManus - Positively Fifth Street
Jeff Noon - Vurt
Road Work
Miles run year to date: 21
At this date last year: 52
Total run in 2012: 129
In 2011: 113
In 2010: 125
In 2009: 67
In 2008: 28
In 2007: 113
In 2006: 100
In 2005: 149
In 2004: 204
In 2003: 269
Comments (8)
Hmmmm.
The "Register Now" link / button doesn't work.
Registering and attending could be fun.
Posted by Nonny Mouse | October 28, 2011 5:10 PM
That's just a screenshot of an e-mail message that someone forwarded to me. I'm not sure it's open to the public.
Posted by Jack Bog | October 28, 2011 5:35 PM
From last February:
"This week’s credit check: A record 43.6 million Americans are using food stamps. JPMorgan’s segment that makes food stamp debit cards made $5.47 billion in net revenue in 2010.
You might think that if you’re on food stamps, big banks won’t be very interested in you. What could they possibly want with someone who’s struggling just to put food on the table? But it turns out that you’re actually part of a profitable business for big bank JPMorgan. While the money to pay for the stamps comes from the government, the technology to access it lies in private hands. Food stamps used to be literally stamps — that is, pieces of paper — but in this day and age paper is so old fashioned. Now you get your food stamps with a debit card, and JPMorgan knows all about creating plastic credit products."
http://www.newdeal20.org/2011/02/09/food-stamps-jpmorgan-banking-industry-profits-from-misery-35307/
"JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money."
http://www.alternet.org/rss/1/446636/jp_morgan_makes_big_bucks_from_food_stamp_growth,_then_hires_workers_in_india_with_our_tax_dollars
OR, btw, is not among the states handled so profitably by JPM.
Of course, Mr Dimon does not run JPM by himself. Until earlier this year, Wm M Daley, currently Mr Obama's COS, found the company very profitable for himself:
"White House’s new chief of staff, William M. Daley, is rich — so much so that his recent earnings from JPMorgan Chase appear to give even Jamie Dimon’s pay package a run for the money.
Mr. Daley, former Midwest chairman and head of corporate responsibility for the bank, made $8.7 million in 2010 and the first week of 2011, according to a 43-page disclosure report released Friday by the White House. He became President Obama’s chief of staff in January.
In the last year, Mr. Daley’s compensation included a $675,000 salary for 2010, a roughly $3 million cash and stock bonus for 2009 and a $4.8 million bonus for 2010.
Mr. Daley already has sold more than 180,000 of his JPMorgan shares, Bloomberg News reports.
He also cashed out his pension before joining the West Wing, which brought him $6.6 million.
Mr. Dimon, JPMorgan’s chief executive, last year received a $1 million salary, and the bank disclosed Thursday that he also received restricted stock and stock options valued at $17 million."
http://dealbook.nytimes.com/2011/02/18/bill-daley-made-8-7-million-from-jpmorgan-last-year/
One cannot help but wonder whether Mr Dimon receives Secret Service protection.
Posted by Gardiner Menefree | October 28, 2011 5:37 PM
"...without trying to be funny..."
In January, 2010, Mr Dimon, along with three other leaders of big Wall St banks, was summoned to testify before the Financial Crisis Inquiry Commission, chaired by Phil Angelides, who received ample financial support from JPM during his political career in CA. Mr Dimon did not say much of interest, even about his acquisition of $307B of WaMu's assets for $1.88B; but he did provide a matter-of-fact suggestion of what he and his colleagues have done to this country's financial system:
"Reflecting on the volatility that has rocked the markets, [Dimon] recalled, 'My daughter called me from school one day and said, "Dad, what’s a financial crisis?" And, without trying to be funny, I said, "This type of thing happens every five to seven years." And she said, "Why is everyone so surprised?"'"
http://www.nytimes.com/2010/01/14/business/14panel.html?scp=3&sq=Dimon%20+%20Congressional%20hearings&st=cse
Posted by Gardiner Menefree | October 28, 2011 6:45 PM
Maybe Lister can get in to ask him if JPM will follow B of A and push their unfunded and uninsured mortgage debts (Washington Mutual et al)back onto the FDIC so that taxpayer once again bail out the risks taken by greedy banks and mortgage processors.
Sad thing is that the FED allows this and these banks will never be allowed fail, no matter the cost to the taxpayers.
http://seekingalpha.com/article/301260-bank-of-america-dumps-75-trillion-in-derivatives-on-u-s-taxpayers-with-federal-approval
Posted by mark | October 29, 2011 9:23 AM
"I'm not sure it's open to the public..."
How about no?
Posted by Mister Tee | October 29, 2011 10:19 AM
I googled "jamie dimon portland business alliance" and was taken to a webpage that seemed to be the registration page.
$75 for non-members; that's cheaper than therapy.
Posted by toady | October 30, 2011 11:15 PM
Thanks for the heads-up on this. JPMorgan Chase gives me the heebie-jeebies for a variety of reasons, some of which have been mentioned in the comments above.
On a personal level, they committed what I consider a nearly unpardonable policy sin. My brother died unexpectedly a few years ago. A few months after his death, my parents received a robo-call from Chase which said, "If you are the executor of ______'s estate, please press 1." I happened to be at my parents' house and was the one who picked up the phone.
Needless to say (I hope), I was appalled. Adding insult to injury (why did my brother have a Chase credit card, for crying out loud), the time it took to track down Chase information to find someone who could address this policy took considerable effort. To their credit (so to speak), someone eventually did contact me.
Anyway, I'm underwhelmed by how Mr. Dimon defines strategies for the Great Casino. If I had a spare $75 lying around the house, it might be curious to hear him "share his perspectives", though. On the other hand, it just might make me want to puke. Also, I have little desire to support the PBA. Of course, what would be really fun would be to buy a couple of dozen tickets and take some of the 99%.
Again, thanks for letting us know about this.
Posted by Kirsten A | November 1, 2011 6:25 PM