Blue Mass Group

Reality-based commentary on politics.

  • Shop
  • Subscribe to BMG
  • Contact
  • Log In
  • Front Page
  • All Posts
  • About
  • Rules
  • Events
  • Register on BMG

Scott Brown Becomes JPMorgan Chase VP for Tax Policy

January 15, 2010 By Bob Neer

Republican Scott Brown and newest big bank BFF no doubt applauded today’s news that JPMorgan Chase, after being bailed out with our money, has set aside $26.9 billion to compensate its workers, up about 18 percent from last year. The average employee will earn about $129,000; employees in its investment bank will bring home roughly $380,0000 each; top executives will get multimillion-dollar payouts.

Brown yesterday went on the record opposing a “Financial Crisis Responsibility Fee” on the 50 largest financial institutions to recover some of the costs of bailing them out, much of which has not been repaid and probably never will be.

If the Brown campaign has its way, the biggest banks will have even more money for bonuses until the next crisis rolls around, at which point Republicans will no doubt once again push for a bailout from general tax revenues, just as they did under Bush and Paulson. Lather, rinse, repeat.

One notes with a tiny touch of pity the teabaggers who supported “four-home Brown” because they thought he was opposed to Wall Street and big business kicked to the curb in the final days of the campaign. A tiger can’t change his stripes, patriots.

Democrat Martha Coakley, of course, has actually recovered tens of millions of dollars for taxpayers by prosecuting deceptive practices by Goldman Sachs, Merrill Lynch, UBS and others, and supports the idea that banks should pay for their bailout rather than recycling the funds, directly and indirectly, to their executives as personal bonuses.  

Please share widely!
fb-share-icon
Tweet
0
0

Filed Under: User

Recommended Posts

  • No posts liked yet.

Recent User Posts

Predictions Open Thread

December 22, 2022 By jconway

This is why I love Joe Biden

December 21, 2022 By fredrichlariccia

Garland’s Word

December 19, 2022 By terrymcginty

Some Parting Thoughts

December 19, 2022 By jconway

Beware the latest grift

December 16, 2022 By fredrichlariccia

Thank you, Blue Mass Group!

December 15, 2022 By methuenprogressive

Recent Comments

  • blueeyes on Beware the latest griftSo where to, then??
  • Christopher on Some Parting ThoughtsI've enjoyed our discussions as well (but we have yet to…
  • Christopher on Beware the latest griftI can't imagine anyone of our ilk not already on Twitter…
  • blueeyes on Beware the latest griftI will miss this site. Where are people going? Twitter?…
  • chrismatth on A valedictoryI joined BMG late - 13 years ago next month and three da…
  • SomervilleTom on Geopolitics of FusionEVERY un-designed, un-built, and un-tested technology is…
  • Charley on the MTA on A valedictoryThat’s a great idea, and I’ll be there on Sunday. It’s a…

Archive

@bluemassgroup on Twitter

Twitter feed is not available at the moment.

From our sponsors




Google Calendar







Search

Archives

  • Facebook
  • RSS
  • Twitter




Copyright © 2025 Owned and operated by BMG Media Empire LLC. Read the terms of use. Some rights reserved.