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ABC News, JP Morgan Chase is going ahead with plans to spend $138 million on two corporate jets and a "luxury" hanger to house them.
But, incase you were thinking that seems a bit off in the current climate, don't worry - the purchase of these essential items won't be funded by the $25 billion in TARP money the bank recently took from the taxpayer.
ABC notes that chairman Jaime Dimon - who received over $19 million in compensation last year - recently opined: "When I hear the constant vilification of corporate America I personally don't understand it."
now says it won't be buying the jets until it pays off all the TARP money.
North America editor
27 Nov 2006
This post is from a series of posts in the group:
A place to share stuff that isn't at all fintec related but is amusing, absurd or scary.