If you’ve been following our reporting of JPMorgan Chase since Chairman and CEO Jamie Dimon has been at the helm, you’re aware of one striking fact: this bank has a pattern of getting into bed with unsavory characters: Bernie Madoff, check. Racketeering traders, check. A sex trafficker of children, Jeffrey Epstein, check. Money launderers, check. The guy who bragged on his resume that he knew how to game electric markets, check.
Despite an unprecedented record of five felony counts from the U.S. Department of Justice since 2014, to which it admitted guilt, and the reputational damage this has done to its brand, JPMorgan Chase’s asset management unit made the unusual decision last year to form a joint venture with an SFR (Single-Family Rental company) whose tenant complaints are so eye-popping that they fill pages on the internet and have been the focus of television and magazine reporting.…
Rent-seeking.
Wall Street On Parade
Here Come Wall Street Rental Communities: What Could Possibly Go Wrong?
Pam Martens and Russ Martens
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