[183053] in Zephyr_Bugs
Another slap on the wrist?
daemon@ATHENA.MIT.EDU (t r u t h o u t)
Wed Oct 23 20:54:32 2013
Date: Wed, 23 Oct 2013 20:54:13 -0400 (EDT)
From: t r u t h o u t <messenger@truthout.org>
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To: zephyr-bugs@MIT.EDU
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t r u t h o u t | Thirteen billion dollars sounds like a lot of money, does=
n't it? It does to us too - that's enough to fund many, many, many Truthout=
s.
But for JP Morgan Chase, who turned a $21.3 billion profit last year, a $13=
billion settlement is a much more manageable figure. It's barely a slap on=
the wrist - especially if it protects them from further investigation by t=
he Department of Justice into the sale of mortgage securities in the lead-u=
p to the financial crisis.
What's more, the bank will in all likelihood end up only paying half that a=
mount, as former financial regulator Bill Black explained in a video recent=
ly published at Truthout. And it hasn't flustered Jamie Dimon, chairman and=
chief executive of JP Morgan, one bit - he arrogantly says he's "damn prou=
d of this company."
Yet according to Rupert Murdoch's New York Post and Wall Street Journal, th=
is is too much. Apparently, these publications would like to see the people=
who crashed the economy not only escape jail but also continue to make vas=
t sums of money hand over fist, with no penalty.
If you disagree, and prefer media that demands accountability for bankers' =
financial wrongdoing, then consider showing your support for Truthout tonig=
ht by making a tax-deductible donation. We're in your corner - not rooting =
for the big banks.
Now that's something worth being proud of. Help us keep up the fight by don=
ating now!
Click here to donate: https://members.truth-out.org/donate
(Truthout is a 501(c)(3) nonprofit. EIN: 20-0031641)=20
You can also donate by check, made payable to:
Truthout, P.O. Box 276414, Sacramento, CA 95827
(Please include your email address on your check.)=20
Sincerely
Dina Rasor, Acting Executive Director, and Joe Macar=C3=A9, Director of Don=
or Development and Outreach=20
PS. You may notice that we have switched to a new, improved platform for pr=
ocessing credit card donations. Please let us know if you have any feedback=
on the new system by contacting to-support@truthout.org!
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<p style="font-size: 110%;font-family: Arial, Helvetica, sans-serif">Thirteen billion dollars sounds like a lot of money, doesn't it? It does to us too - that's enough to fund many, many, many Truthouts.<br />
<br />
But for JP Morgan Chase, who turned a $21.3 billion profit last year, a $13 billion settlement is a much more manageable figure. It's barely a slap on the wrist - especially if it protects them from further investigation by the Department of Justice into the sale of mortgage securities in the lead-up to the financial crisis.<br />
<br />
What's more, the bank will in all likelihood end up only paying half that amount, as former financial regulator Bill Black explained in a video recently published at Truthout. And it hasn't flustered Jamie Dimon, chairman and chief executive of JP Morgan, one bit - he arrogantly says he's "damn proud of this company."<br />
<br />
Yet according to Rupert Murdoch's <i>New York Post</i> and <i>Wall Street Journal</i>, this is too much. Apparently, these publications would like to see the people who crashed the economy not only escape jail but also continue to make vast sums of money hand over fist, with no penalty.<br />
<br />
If you disagree, and prefer media that demands accountability for bankers' financial wrongdoing, then consider showing your support for Truthout tonight by making a tax-deductible donation. <b>We’re in your corner - not rooting for the big banks.</b><br />
<br />
Now that's something worth being proud of. <b>Help us keep up the fight by donating now:<br />
</b></p>
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(Please include your email address on your check.)</p>
<p style="font-size: 110%;color: #444 !important;font-family: Arial, Helvetica, sans-serif;line-height: 1.1">Sincerely<br />
Dina Rasor, Acting Executive Director, and Joe Macaré, Director of Donor Development and Outreach</p>
<p style="font-size: 110%;color: #444 !important;font-family: Arial, Helvetica, sans-serif;line-height: 1.1"><b>PS. You may notice that we have switched to a new, improved platform for processing credit card donations. Please let us know if you have any feedback on the new system by contacting to-support@truthout.org!</b></p>
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