Bernie Sanders goes after Jamie Dimon in a new campaign ad, labeling the JPMorgan Chase & Co. chief executive officer “the biggest corporate socialist in America today.” The spot cites Dimon’s pay, including $31.5 million last year, and says JPMorgan received bailouts after the global financial crisis 12 years ago.
Here's the truth: the billionaire class is fine with corporate socialism when it means they get billions in tax breaks and bailouts. pic.twitter.com/GA55PenGqj
— Bernie Sanders (@BernieSanders) January 26, 2020
15 million americans lost their homes. 10 million people lost their jobs. American people lost $13 trillion in savings.
How did Jamie Dimon do? Just great! His bank was able to get a $416 billion bailout from the Federal Resrve and Treasury Department when Jamie Dimon was sitting on the board of directors at the New York Federal Reserve. He made over $270 million in total compensation since 2007. His bank – a bank that got bailed out because it was “too big to fail” – is now a trillion dollars bigger than it was before the bailout. His bank paid $13 billion fine for mortgage fraud, instead of being indicted he became a billionaire and now worth $1.7 billion.
As Martin Luther King Jr said, america today, we have socialism for the rich and rugged individualism for everyone else.
End corporate socialism.
— source bloomberg.com | Jan 27, 2020