Monday, November 04, 2019

McDonald's vs. JPMorgan

They treat their CEOs differently. Steve Easterbrook, the CEO of McDonald’s, was fired by his Board for engaging in a consensual relationship with an employee, in violation of company policy. Whereas it seems that no matter what Jamie Dimon, CEO of JPMorgan, does, he can't lose his job or be punished. 

Here's some of what JP has done under Dimon's leadership:

$6.2 billion in losses from derivatives in London in 2012.

The Bernie Madoff deal resulted in two criminal felony counts from the U.S. Department of Justice, to which JP pleaded guilty. 

In 2015, JP pleaded guilty to one more criminal felony charge for its role in rigging foreign currency trading. 

In September of this year, the U.S. Department of Justice, for the first time that anyone can remember, named the precious metals trading desk of the bank a criminal enterprise and charged three of its traders, including the head of the desk, with racketeering under the RICO statute.

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