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- Title
While JPMorgan Chase Was Getting Trillions of Dollars in Loans at Almost Zero Percent Interest from the Fed, It Was Charging Americans Hit by the Pandemic 17 Percent on their Credit Cards.
- Authors
Martens, Pam; Martens, Russ
- Abstract
Under just three of the emergency bailout programs offered by the Fed to Wall Street, units of the megabank JPMorgan Chase tapped over $6 trillion in cumulative (term-adjusted) loans from September 17, 2019 through the first quarter of 2020. Thus far, the numbers stack up as follows: a trading unit of JPMorgan Chase borrowed $6.19 trillion from the Fed's repo loan program from September 17, 2019 through March 31, 2020.
- Subjects
J.P. Morgan Chase &; Co.; LOANS; CREDIT cards; INTEREST rates; MONEY market funds; NEGOTIABLE instruments; PROMISSORY notes
- Publication
CounterPunch, 2022, p1
- ISSN
1086-2323
- Publication type
Article