J.P.Morgan Chase's Dimon is rescuing Detroit

[question everything]

A fascinating report on "60 minutes."

Really worth watching

https://www.cbs.com/shows/60_minutes/video/ZaRB6Kf2CAetFoTX7URZViANNRPDrVUo/jamie-dimon-s-data-focused-investment-in-detroit/

About 12 minutes.

[KWR65]

1. Bad link

[CurtEastPoint]

2. Link appears to be good. Problems w/video server on CBS?

[question everything]

3. I am sorry. It is OK with me

Perhaps someone can find a better one?

Of course, there is the link for the whole program

https://www.cbs.com/shows/60_minutes/video/

And the one I am thinking is the second.

[CurtEastPoint]

4. I had an ad blocker on. Disabled it and it seems to want to play now

[CurtEastPoint]

5. Here's an 11 minute one:

https://www.cbsnews.com/video/jamie-dimon-jp-morgan-chase-ceo-makes-data-focused-investment-in-detroit-60-minutes-2019-11-10/

[question everything]

6. Thanks for finding this

[Dem4Life1102]

7. But I thought he was an evil billionaire

[question everything]

8. Ahem

Interesting, isn't it?

And welcome to DU.

[Demovictory9]

13. me too. how did he make that money?

[in2herbs]

9. I saw pieces of this last night but did not sit to watch. I remember Dimon -- one of the bankers

who almost brought the US economy to its knees during the start of the Obama years. Where was he back then with his "focused investment" to rebuild? My opinion is that he is doing this to get some good PR because he's afraid of what will happen if Warren is elected. Don't like him, don't trust him.

[question everything]

10. Stahl suggested some kind of atoning

He did not exactly disagree. So he decided to do good. No need to distrust him. You may want to watch it, with unbiased mind.

I kinda remember that his was the only bank that did not collapse in 2008 but that Paulson made him take control of another bank.

Or something..

[First Speaker]

11. I don't care what his motives are...

...I don't "trust" him, either. But actions are what matter, not motives...

[applegrove]

12. He has the data to make connections on what places are the best to open

a store or a business and is giving it away. The admission by the mayor that society being against black homeowners since the 1930s (and obviously before in other parts of the country) was past due being said. The hope is that regular bankers will be open to being bankers to the most successful people if this works is pretty telling. I think just not purposefully destoying unions and giving good social programs would have created a market for Detroit to grow.

[Demsrule86]

14. I know about this ...my daughter was sent there a couple of years ago during her internship...and it

is pretty amazing.

[question everything]

15. Glad to hear. Hope her internship led to future intersting assignments

and, of course, lessen the image of the "evil empire" (if she has ever harbored it).

[Demsrule86]

17. She is an accountant now...graduated and working for a large oil company.

People have to have jobs. She is in Cleveland. She was looking in other states but her Dad got sick (he is dong fine) and she found a boyfriend who interestingly works for a start up tech located in California...but he works out of his house in Cleveland. They can pay him less than if he lived in California and they still get great talent...you see that more and more these days.

[Proud Liberal Dem]

16. Great and all

but individual acts of charity aren't a solution to structural and institutional issues that are beyond his ability to address.

[Demsrule86]

18. Really, and Detroit was on its knees ...how long you think before anyone would have done shit...I

vote for never. So I applaud this...and thank them for caring enough to save this great city that can be great again. We have had much help bringing Cleveland back too...and it is appreciated.

[Demsrule86]

19. I don't like the demonetization of corporations by our side. People need jobs. My brother worked

for JP Morgan and Citi Bank as well.

[question everything]

20. Hear! Hear!

Both my father and father in law worked for corporations - one each, really - all their lives, were even union members. This allowed them to send their kids to college and to retire comfortably, even providing for their widows.

Spouse and I do not have pensions - no one does, these days - but we were adequately compensated by the different corporations where we worked, including 401Ks that allow us to retire in dignity - so far- without being burden on society and, yes, to contribute to worthy causes.

That two candidates, who have never worked for corporations, at least not for significant amount of time, who are now millionaires thanks to books and high earning spouses and, of course, the generous income of a senator, and yet they bash corporations and their employees is really disheartening.

[Demsrule86]

21. I agree...the idea that corporations are evil is silly and hurts our efforts...people say why can't

we have progressive media or big think tanks...we have driven the people who could help out our party with a variety of things but no they are shunned and what is the result? We lose election but somehow purity is enough for some...not me. But those same folks who cry foul take care of the job makers / corporations in their towns...Warren and the medical device tax is one instance...and I don't blame her...you have to support jobs in your state. And the other instance would be Sanders who voted not to allow people to sue gun manufacturers...well he had gun manufacturing jobs in his state and again...he wanted to support them. In this instance I think he made a mistake but I get why he did it and don't judge him. It is senseless to drive out wealthy people who think like us from our party solely because of their wealth. Let folks help if they want to...if they ask for favors, you can say 'no'. Ask Biden about why he was the poorest Senator after years in the senate...you can accept campaign donations without giving favors.