- Posted May 15, 2012 by
This iReport is part of an assignment:
Obama Banker: JPMorgan Chase
Did anyone pay attention to the financial forms released by the White House today on President Barack Obama?
There is definitely some interesting information contained on those forms.
Remember just yesterday how the President said this about JPMorgan Chase, the bank that blew $2 billion of its own money in a bungled hedge, "one of the best managed banks there is"?
Then the President went on to say about the man who is the head of that bank, "one of the smartest bankers we got".
Yes, we all know that the banker, Jamie Dimon, is one smart cookie. We also know he has contributed a lot of money to Team Obama.
But what we learned from the financial forms today is why the President seems to have such admiration for both the bank and Dimon, beyond the campaign contributions.
Chase is the bank for the President and his family. Dimon is Obama's banker.
And now we should expect the President to push hard to make sure there were no irregularities and believe him when he said on The View today tht the bank and its loss are "going to be be investigated"?
This does raise some question marks and explains, maybe, why the banks have grown by 45% from 2008 when they were too big to fail and why regulations haven't taken much of a bite.
Makes you wonder why no arrests for corruption or fraud or something.
From the Cornfield, if I wasn't before, I am now more skeptical than ever.