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77% of JP Morgan’s Net Income Comes from Government Subsidies
07-04-2012, 02:24 PM #1
Jed Member
Posts:230 Threads:40 Joined:Mar 2012
Quote:JPMorgan receives a government subsidy worth about $14 billion a year, according to research published by the International Monetary Fundand our own analysis of bank balance sheets. The money helps the bank pay big salaries and bonuses.

To estimate the dollar value of the subsidy in the U.S., we multiplied it by the debt and deposits of 18 of the country’s largest banks, including JPMorgan, Bank of America Corp. and Citigroup Inc. The result: about $76 billion a year. The number is roughly equivalent to the banks’ total profits over the past 12 months, or more than the federal government spends every year on education.

JPMorgan’s share of the subsidy is $14 billion a year, or about 77 percent of its net income for the past four quarters. In other words, U.S. taxpayers helped foot the bill for the multibillion-dollar trading loss that is the focus of today’s hearing.
http://www.zerohedge.com/contributed/201...-subsidies

That there is an obscene amount
of money from you and I folks.
That new healthcare tax-
er- mandate is a comin' wonder how
much them banker fellers gonna' get
out of that?
We get more of the same thing that
broke us all in the first place?
This here makes me madder than a wet
hen.
07-04-2012, 02:56 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,578 Threads:1,444 Joined:Feb 2011
Ahhh, FFS! gaah.gif When do people get pissed enough to make this ponzi scheme stop. Good find Jed, keep the Bush Tax cuts, tax the poor indirectly with a healthcare tax, and give the leftovers to private banks at public expense and increased debt.
This whole thing is unsustainable and will ultimately come crashing like a ton of bricks. This amounts to blatant, in your face redistribution of wealth.

wonder.gif
07-04-2012, 04:19 PM #3
Octo Mother Superior
Posts:43,369 Threads:1,483 Joined:Feb 2011
wtf2.gif Why??? gaah.gif
07-04-2012, 04:34 PM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,578 Threads:1,444 Joined:Feb 2011
Cause that's where the campaign donations come from. Crooked fucks. 13.gif

wonder.gif
07-05-2012, 03:17 PM #5
yankees skier
Posts:5,894 Threads:215 Joined:Feb 2011
gaah.gif

Biere.
07-05-2012, 03:48 PM #6
Kreeper Griobhtha
Posts:10,851 Threads:655 Joined:Feb 2011
http://www.bloomberg.com/news/2012-06-18...fare-.html



gaah.gifgaah.gifgaah.gif

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor



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