Is JP Morgan Getting a Good Return on $4.6 Million “Gift” to NYC Police? (Like Special Protection fr

[Donnachaidh]

http://www.nakedcapitalism.com/2011/10/is-jp-morgan-getting-a-good-return-on-4-6-million-gift-to-nyc-police-like-special-protection-from-occupywallstreet.html

No matter how you look at this development, it does not smell right. From JP Morgan’s website, 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.”

Perhaps I remember too much of the scruffy and not exactly safe New York City of the 1980s, where getting your wallet pinched was a pretty regular occurrence. My perception has been that police-related charities have relied overmuch on the never-stated notion that if you didn’t donate, you might not get the speediest response if you needed help. As a mere apartment-dweller, I can’t imagine that anyone could scan incoming 911 calls against a priority list. But the flip side is if I owned a retail store and thought the beat police would keep an extra eye on it if I gave to a police charity, it would seem like an awfully cheap form of insurance.

More at the link --

[Odin2005]

1. K&R

[NYC_SKP]

2. It can't hurt their bottom line...

[FarLeftFist]

3. They are starting to get scared.

[dkf]

4. Protection money. Sad.

[Dawson Leery]

5. So far, yes.

Now when the time comes for the neo-cons to bust the NYPD's union, the NYPD will NOT have any backup, unlike those in Wisconsin.

[Ikonoklast]

6. The Night Watch was started by the wealthiest burghers in the village

to protect their wealth, screw the peasants.

Oh, and the funny thing is, they usually hired the biggest local ruffians first, sort of a pre-emptive move on their part.

History seems to be repeating itself...

[hootinholler]

7. I have to wonder what the shareholders think of this 'investment' n/t

[Festivito]

8. It'll pay for OT, but, will it pay for the eventual class action lawsuits?

The cops won't care. They'll get paid now, they'll get new equipment, and the eventual lawsuits will be paid by the taxpayers -- later -- without a so much as a whisper of responsibility.

[JDPriestly]

9. Yes.

Watch the video of the police redirecting the protestors from the walkway to the street across the Brooklyn Bridge --- and then kettling and arresting them.

http://www.youtube.com/watch?v=kz172asCf2M

One thing we know -- the protests are definitely being noticed on Wall Street. The protestors are being heard.

More power to the protestors.

[Quantess]

10. Worth noting.