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Bailed out JP Morgan goes jet shopping

According to 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."

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Matt White
Matt White - Finextra - Toronto 24 March, 2009, 11:51Be the first to give this comment the thumbs up 0 likes

The bank now says it won't be buying the jets until it pays off all the TARP money.

Matt White

Matt White

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