[P2P-F] Fwd: Oct 3 2011 article : JP Morgan Chase ( Bank ) Donates $4.6 Million To NYPD On Eve Of Protests

[Michel Bauwens]

---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
Date: Fri, Nov 25, 2011 at 4:41 AM
Subject: Oct 3 2011 article : JP Morgan Chase ( Bank ) Donates $4.6 Million
To NYPD On Eve Of Protests
To: econowmix at googlegroups.com


feel free to double check more references via searching keywords such as
"jp morgan donates to police" - also see :
http://en.wikipedia.org/wiki/JPMorgan_Chase

///

http://www.disinfo.com/2011/10/jp-morgan-chase-donates-4-6-million-to-nypd-on-eve-of-protests/

JP Morgan Chase Donates $4.6 Million To NYPD On Eve Of Protests

Posted by JacobSloan on October 3, 2011

[image: 167451-occupy-wall-street]<http://disinfo.s3.amazonaws.com/wp-content/uploads/2011/10/167451-occupy-wall-street.jpg>Wondering
how much it costs to buy off the police department? JP Morgan Chase just
gave the New York City Police Foundation the largest donation in its
history. How the police show their gratitude will presumably determine
whether they receive similar donations from companies in the future. Via Naked
Capitalism <http://www.nakedcapitalism.com/>:

No matter how you look at this development, it does not smell right. From JP
Morgan’s website<http://www.jpmorganchase.com/corporate/Home/article/ny-13.htm?TB_iframe=true&height=580&width=850>,
hat tip Lisa Epstein:

JPMorgan Chase recently donated an unprecedented $4.6 million to the New
York City Police Foundation. The gift was the largest in the history of the
foundation and will enable the New York City Police Department to
strengthen security in the Big Apple. The money will pay for 1,000 new
patrol car laptops, as well as security monitoring software in the NYPD’s
main data center.

New York City Police Commissioner Raymond Kelly sent CEO and Chairman Jamie
Dimon a note expressing “profound gratitude” for the company’s donation.

“These officers put their lives on the line every day to keep us safe,”
Dimon said. “We’re incredibly proud to help them build this program and let
them know how much we value their hard work.”

Now readers can point out that this gift is bupkis relative to the budget
of the police department, which is close to $4 billion. But looking at it
on a mathematical basis likely misses the incentives at work. Dimon is one
of the most powerful and connected corporate leaders in Gotham City. If he
thinks the police donation was worthwhile, he might encourage other bank
and big company CEOs to make large donations.

And what sort of benefits might JPM get? The police might be extra
protective of your interests. Today, OccupyWallStreet decided to march
across the Brooklyn Bridge (a proud New York tradition) to Chase Manhattan
Plaza in Brooklyn. Reports in the media indicate that the police at first
seemed to be encouraging the protestors not only to cross the bridge, but
were walking in front of the crowd, seemingly escorting them across. Over
700 of the marchers were arrested, and the media has a rather amusing “he
said, she said” account, with OccupyWallStreet claiming entrapment and the
cops batting their baby blues and trying to look innocent.

We simply don’t know whether the police would have behaved one iota
differently in the absence of the JP Morgan donation. But it raises the
troubling perspective that they might have.




-- 
P2P Foundation: http://p2pfoundation.net  - http://blog.p2pfoundation.net

Connect: http://p2pfoundation.ning.com; Discuss:
http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation

Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens;
http://twitter.com/mbauwens; http://www.facebook.com/mbauwens
-------------- next part --------------
An HTML attachment was scrubbed...
URL: https://lists.ourproject.org/pipermail/p2p-foundation/attachments/20111125/9eac7ea8/attachment.htm