This just in from the New York City Police Foundation website:
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 it's just a coincidence that just as people begin to take out their frustrations with Wall Street by turning out on "the Street" themselves, JPM has given the NYPD's foundation its biggest gift ever.
I suppose the skeptic in me would look at this gift with a jaundiced eye. That skeptic would say that JPM (knew)(feared) believed that a big protest might be coming, and acted accordingly in order to protect its (property) image.
By the way, back when I was a stupid teenager, I had a talk with my Dad about the Vietnam protests. He asked me, "when do the police actually take action against the protesters?" In my foolish youthful exuberance, I suggested that they came out when people got hurt. My Dad said that was nonsense, as anyone could have seen on TV that the police (let's say in Chicago) hurt more people than the crowds did. He then set me straight: "the police come out and start busting heads when property is damaged." I thought about it for a while (I wasn't a complete moron then - I sometimes overcame testosterone poisioning), and realized he was right.
I'm not suggesting there's any connection to the JPM donation (large as it is) and the way the NYPD has acted towards peaceful protesters. I'll leave it to others to figure out what it means.