It's good to be king.
ABC:
Embattled bank JPMorgan Chase, the recipient of $25 billion in TARP funds, is going ahead with a $138 million plan to buy two new luxury corporate jets and build "the premiere corporate aircraft hangar on the eastern seaboard" to house them, ABC News has learned....
The Gulfstream 650's are described by the manufacturer as the "fastest," "widest" and "most comfortable" private jet ever with superior cabin amenities, an optional stateroom, and 12 interior designs to choose from....
[O]n March 11, the chairman of JPMorgan Chase, Jamie Dimon, said he could not understand why corporate America has such a bad image.
"When I hear the constant vilification of corporate America I personally don't understand it," Dimon said.
Dimon, whose 2008 compensation package, according to SEC documents, was worth more than $19 million in salary, stock and options, declined to speak with ABC News about the proposed plans.
And this is my favorite:
Joseph Evangelisti, a spokesman for JPMorgan Chase, said no TARP money would be used to make any payments for new jets or jet hangar improvements.
Yeah, let me walk you through this one....
ADULT KID, 45 YEARS OLD: Mom, dad, I'm broke. I was living high on the hog, spending like a drunken sailor, gambled my money away, and now I need your help.
PARENTS: Okay honey, we love you, here's $25 billion.
KID: Thanks. I'm going to Aruba.
PARENTS: You said you were broke, I just gave you $25bn, and now you're spending it on fun?
KID: Don't worry, I'm not frivolously spending your $25bn, I'm frivolously spending a big pot of money on the side that I never told you I had when I pretended I was broke and needed your help.
AMERICAblog News| A great nation deserves the truth
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