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    Jamie Dimon bemoans poverty and racism in the US Archived Message

    Posted by Raskolnikov on October 6, 2020, 7:56 am

    Yes, Jamie Dimon of JP Morgan. That Jamie Dimon. The one that got a 30 million dollar bonus last year.

    https://www.dumptheguardian.com/business/2020/oct/05/covid-has-highlighted-americas-flaws-says-bank-boss-jamie-dimon

    The JP Morgan boss has said the Covid pandemic and the police killing of George Floyd have shone a spotlight on America’s flaws and its failure to address inequality and racism.

    Jamie Dimon told a banking conference on Monday that the tumultuous events of the past year had magnified problems around structural racism and poverty that had plagued the US for more than 150 years.

    “Covid and the murder of George Floyd kind of shine the spotlight on something that we already knew,” Dimon said during an interview at the Sibos conference. “We’ve had racial inequality in this country since way before the civil war and we haven’t done a particularly good job of fixing it.

    “And let’s acknowledge the truth … the black community has been left behind for a long time and a lot of it was structural: jobs, education, stuff like that.”

    “Poor people tend to suffer in any crisis, more than everybody else, more than the rich people.” Dimon said. “That was true for Superstorm Sandy, it’s true for recessions, it’s true for Covid. Covid just highlights so many flaws in how we run our country, the mistakes we make in running our country and how it hurts so many people.”

    Dimon said JP Morgan was “doubling down and advancing black pathways”. The bank has said it aims to hire 4,000 black college graduates by 2024.

    Seems unusual for him to so worried about all those poor people. Maybe they've become so poor they can't be sold subprime mortgages to pad his bonus. Something MUST be done. But then, way down the bottom...

    The bank reportedly introduced new diversity training programmes in March,months after a New York Times article detailed allegations of racial discrimination at a branch in Arizona. The bank put one of its executive directors on administrative leave after the claims went public.


    Ahhh. It all becomes clear now. Someone said the quiet part out loud and you got caught. Not mentioned in the hand-wringing article is this (from the NYT article linked in the original):

    Less than two weeks later, JPMorgan agreed to pay $24 million to end a class-action lawsuit brought by other black employees who said the company had discriminated against them — in some cases by isolating them from colleagues and dumping them in poorer branches.

    Not so much "allegations" then. More like actual racism that you paid to sweep under the carpet.

    Fraudian doing its usual "fearless journalism" aka printing a press release from JP Morgan. Maybe next in the series will be Zuckerberg on why we need to protect our privacy. Utter hacks.

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