After $12 Billion JPMorgan Bailout, CEO Jamie Dimon Doesn't Want Biden 'Throwing Money'
Subsequent to scarfing up an astounding $12 billion public bailout for JPMorgan Chase, the bank's CEO, Jamie Dimon, needs an organized rundown of uses the Biden organization has at the top of the priority list for a corporate assessment increment.
"Simply tossing cash ... doesn't work," Dimon said in a taped meeting posted Thursday for the Investment Company Institute's overall enrollment meeting. "We effectively squander huge amounts of cash," he noted, alluding to President Joe Biden's foundation plan.
He was evidently not alluding to the manner in which banks tossed citizen cash at a mass of terrible home loan credit misfortunes that had set off a worldwide monetary emergency and came about in huge bailouts in 2008.
Concerning charge climbs on the well off and enterprises, Dimon needs to realize precisely how the cash will be spent. He said he's likewise concerned Biden's expense climb plans are "somewhat insane."
Biden plans to raise the corporate expense rate from 21% to a reach of 25% to 28%. That is after Donald Trump led the push to cut the corporate duty rate from 35% to 21%, cutting a $2 trillion hole into the government financial plan.
Dimon said the circumstance ought to be: "In case you will give me your cash, I will be a decent steward of it, and this is what I will achieve and I will report back to you."
He was discussing legislators and the public authority, not banks.
That is entertaining, on the grounds that Jamie Dimon didn't give working individuals an organized rundown of the school regions, public clinics, foundation, or reasonable lodging projects he was helping undermine when he pushed for the $2T GOP Tax Scam in 2017 w/treats for yacht and stream owners.🤷🏽♀️ https://t.co/ecBOBaRmmA—Alexandria Ocasio-Cortez (@AOC) May 6, 2021
Did I miss when we chose Jamie Dimon to deal with our citizen dollars? https://t.co/ZjPXFd0YZ2—Robert Reich (@RBReich) May 6, 2021
JP Morgan CEO Jamie Dimon says if Biden increases government rates, he needs an organized rundown of what the cash would be spent onHow about an ordered rundown of the multitude of yachts, houses, legislators, and other extravagance merchandise that extremely rich people spent Trump's $2 TRILLION TAX CUT on?— Lindy Li (@lindyli) May 7, 2021
Haha that is clever on the grounds that during the last emergency government gave a huge boatload of cash to Jamie Dimon's organization and they attempted *so hard* to keep quiet. https://t.co/fccF5A0t8G—Binyamin Appelbaum (@BCAppelbaum) May 8, 2021
I might want an organized rundown of some of Jamie Dimon's spending, as well! https://t.co/McaOclkTj5—Adam Davidson (@adamdavidson) May 7, 2021