Welfare bailout queen JP Morgan to spend zillions on new jets, hangars, etc..

**Grimmlok** · March 23rd, 2009, 11:20 AM

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

ok seriously, now they're just playing dumb.

**KandyKorn** · March 23rd, 2009, 11:27 AM

[O]n March 11, the chairman of JPMorgan Chase, Jamie Dimon, said he could not understand why corporate America has such a bad image.

And we wonder why we are where we are?? We have Mr. Jamie Dimon on board with his one brain cell.

**Grimmlok** · March 23rd, 2009, 11:32 AM

Yeah, and all of washington massaging it.

**Grimmlok** · March 23rd, 2009, 11:58 AM

oh also, they're spending 600 million of their welfare money to outsource 25% more work to fucking India.

**McJag** · March 23rd, 2009, 12:27 PM

This won't fly. Nope.

**Mr. Authority** · March 23rd, 2009, 01:45 PM

Someone get the SS on their asses. Fucking corporate scum!

**MrsMarsters** · March 23rd, 2009, 04:02 PM

Someone needs to fix this shit ASAP, most of us are struggling to get by, and wow..I am pissed off.

**Fluffy** · March 23rd, 2009, 05:46 PM

When I was listening to the radio today, someone mentioned that corporations can deduct CEO pay up to a certain amount from their taxes. They didn't say what the cap was. I had no idea this existed. But then they theorized that with all the public anger against bonuses and such, Congress may take away that ability. Would be nice.

**celeb_2006** · March 23rd, 2009, 08:27 PM

I want to see more righteous anger and fury, of the 'common person' rising up against this insanity.

Things like these give me ZERO sympathy for execs and those who benefit greatly from excesses like bonuses.

What torques me the most is how these stupid corporations justify bonuses by crying, but if we don't give them out we can't retain top talent. Well first off the 'top talent' ran these companies to the ground, and now they're running to the government crying for help. Help that comes from OUR bloody f**king tax dollars, dollars I EARNED for MYSELF. I don't give a flying f**k if these f**ks can't find a CEO willing to work for no bonuses. With the economy the way it is going and so many out of a job, no one can tell me these corporations can't hire good executive talent with morals and dignity.

The more these execs get scared, the better. Let them know what it is like.

**Grimmlok** · March 23rd, 2009, 08:43 PM

we have to retain top talent!

yeah.. the talent that bankrupted you.

Not that talented.

besides... even if they WERE talented, which they arent.. where the fuck are they going to go? WHO THE FUCK IS HIRING?

nobody!

**Fluffy** · March 23rd, 2009, 09:41 PM

Exactly! It's a bullshit argument. Besides, Canadian bankers didn't fuck up their system and need to be paid astronomical amounts either.

**Grimmlok** · March 23rd, 2009, 09:51 PM

No, we're more conservative up here.. but it's served us well. We're apparently the #1 worldwide banking model people should emulate now.

Slow and steady wins the race LOL

God, even our banking system is indicative of our country. Quiet, stubborn, and calm.