Bonus gravy train continues – JP Morgan eyes billions

The early news from Goldman Sachs was bad. The Citi energy traders were worse. Now JP Morgan is rubbing it in our noses. What part of “they don’t get it nor do they care” are people in Washington missing? The world saved them but you would never know it by the way they act. Apologists continue to cut everyone slack but it’s hard to believe people who were working in this field such as Geithner and Bernanke were foolish enough to ignore proper restrictions and controls. If anyone should of known how Wall Street would react it was them. After this swindle, how interested will people be in saving banks (which had to be done) the next time? The Guardian:

JP Morgan Chase signalled today that City firms are preparing to make huge bonus payments after it kicked off the US bank reporting season by smashing profit expectations.

The bank revealed it had set aside $7.3bn (£4.6bn) in the third quarter to pay staff, taking the total remuneration pot for the first nine months of the year to $21bn, 23% more than at the same time last year.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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