JPMorgan Finds Profit in 'Essential' US National Security, Not Housing
JPMorgan, the financial titan fined billions for mortgage fraud in 2013 and market manipulation in 2020, (according to the DOJ) is now pivoting to 'national security incentives' with a $10 billion investment. CEO Jamie Dimon, who recently toured war zones to personally assess 'stability' (and presumably, future investment opportunities for contractors), says this is about America First. It's
almost as if the 'essential' companies are those producing the very weapons and surveillance tech that keeps the 'defense' industry—and Dimon's pals—in business, rather than, say, affordable housing or healthcare. The FT frames this as a noble endeavor, neglecting to mention the historic pattern of Wall Street reaping massive benefits from government contracts disguised as patriotism. One might
wonder if this 'America First' strategy includes diverting those $10 billion to address the endemic poverty and crumbling infrastructure within actual American communities, or if 'essential' only applies when it comes with a fat federal contract. How many 'national security' investments translate into record profits for shareholders while the average American struggles? (Apparently, many.)