It's not just politicians: Wealthy and powerful financiers regularly show a level of hubris that makes the pols look modest. They say a lot of ridiculous things on a regular basis, but my colleague Lauren Windsor broke a story this week that shows one of these masters of the universe, JPMorgan Chase CEO Jamie Dimon, at his arrogant worst.
The trial of Abacus Federal Savings Bank is finally over, and the verdict is "not guilty" on all counts. This outcome should be a tremendous relief to advocates of Wall Street accountability, and the fact that the case got as far as it did should be an extraordinary embarrassment to District Attorney Cyrus Vance and his office.
There are narratives in conceptual art we just stop moving for. We find ourselves swiftly engaged. This is what I felt when I saw Sara Shaoul's "Chase Manhattan Plaza" installation which was her thesis project for Hunter's MFA program. I was fascinated by her ability to successfully tell her story in a clear and honest uncomplicated site-specific composition.
A year ago the DOJ announced that the banking giant JPMorgan Chase would avoid criminal charges by agreeing to pay $13 billion to settle claims that it had routinely overstated the quality of mortgages it was selling to investors. But how did the bank avoid prosecution for committing fraud that helped cause the 2008 financial crisis?