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Bank tabulated business
linked to China hiring

New York Times, by Ben Protess and Jessica Silver-Green

Original Article

Posted By:voxpopuli, 12/7/2013 8:01:31 PM

Federal authorities have obtained confidential documents that shed new light on JPMorgan Chase´s decision to hire the children of China´s ruling elite, securing emails that show how the bank linked one prominent hire to "existing and potential business opportunities" from a Chinese government-run company. The documents, which also include spreadsheets that list the bank´s "track record" for converting hires into business deals, offer the most detailed account yet of JPMorgan´s "Sons and Daughters" hiring program, which has been at the center of a federal bribery investigation for months.

Comments:
JP Morgan.. hmmm... and who did THEY contribute to in the last two elections..

      


Post Reply  

Reply 1 - Posted by: SoCalGal, 12/7/2013 8:05:19 PM     (No. 9644730)

FTA:

The scrutiny of JPMorgan, which has not been accused of any wrongdoing, could provide a template for federal authorities as they expand their investigation to include the hiring practices of at least five other Wall Street banks conducting business in China, according to interviews with people briefed in the inquiry who were not authorized to speak publicly. Those investigations from the Securities and Exchange Commission, which are at an early stage, involve Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley. All five banks declined to comment.

So what is illegal about this?

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Reply 2 - Posted by: earlybird, 12/7/2013 8:08:33 PM     (No. 9644732)

There is no indication that executives at JPMorgan’s headquarters in New York were aware of the hiring practices described in the documents. And authorities might ultimately conclude that the bank’s hiring, while aggressive, did not cross a legal line.

But they´ll keep digging, digging, digging.

And trying to turn this into a distraction from obie´s mendacious conduct - with the assistance of toadies like the NYT.

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Reply 3 - Posted by: Attila DiMedici, 12/7/2013 8:27:53 PM     (No. 9644743)

How is this different from the way in which lobbying firms hire the relatives of Congressmen/women/Cabinet officers/other members of the Administration?

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Reply 4 - Posted by: earlybird, 12/7/2013 9:01:35 PM     (No. 9644765)

My former husband was a senior executive with HSBC. He spent years in Southeast Asia. The Chinese have always been very big on relationships in business. There is nothing unusual here - and as the article finally points out, the persons hired were fully qualified for the positions.

This is intended to raise suspicions where none are warranted. Though some lo-fos might bite...

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Reply 5 - Posted by: Trigger2, 12/8/2013 4:31:15 AM     (No. 9644957)

Too bad law enforcement doesn´t investigate the massive hiring of muslim brotherhood jihadists everywhere Barry can think of in the goobermint.

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