In 2010, total compensation and benefits at publicly traded Wall Street banks and securities firms hit a record of $135 billion... JPMorgan Chase CEO Jamie Dimon may take home the biggest bonus check, an eye-popping $17 million.
All the while, U.S. foreclosure filings are projected to reach 9 million in 2011, and the big banks and mortgage firms are rushing to kick American families to the curb to pocket more fees.
In addition, 43 million American families rely on food stamps. JPMorgan Chase is the largest processor of food stamp benefits in the United States, and the bank is contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia.
Paid per customer means when the number of food stamp recipients goes up, so do JPMorgan profits. Talk about perverse incentives. JPMorgan is taking its responsibility to keep the U.S. unemployment rate high by offshoring the servicing of many of these contracts to India.
Banksters Back in the Black: JPMorgan Chase | BanksterUSA
