NY Post: 'Biggest mistake': Dimon rues action on military families
5/17/11
Jamie Dimon took JPMorgan Chase's annual meeting 550 miles west to Columbus, Ohio, yesterday and apologized for the mistakes the bank has made in its foreclosure actions.
Hundreds of protesters amassed outside Chase's massive McCoy Center were not impressed.
"We are doing everything we can to keep people in their homes," Dimon told shareholders during the three-hour meeting.JPMorgan, whose shares have performed the best of all major banks over the past year -- up 11 percent to $43.81 over the past 12 months -- has nonetheless been dogged, along with other large financial institutions, with a portfolio of soured mortgages.
Dimon's bankers have also been embroiled in a "robosigning" fiasco where foreclosure workers allegedly signed eviction paperwork without reading the documents.
"Everyone is hurting, it seems like except for Wall Street and its executives," one protester, Jordan Estevao, from the nonprofit National People's Action, told Bloomberg News outside the meeting.
As many as 850 protesters, brandishing handmade poster boards, blasted the bank for its part in booting homeowners out of their homes and profiting as average blue-collar Americans face 9 percent unemployment....
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