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JP Morgan CEO Jamie Dimon grilled over bank's low wages

JP Morgan CEO Jamie Dimon grilled over bank's low wages

(2:35) California Democratic congresswoman Katie Porter spelled out to JP Morgan CEO Jamie Dimon, the real-world implications of the low wages his bank pays its junior employees.

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Guest: mwahahahaha (61 days ago)

How about implementing a decent minimum wage? You know, like heaps of other progressive countries?... Watching America shuffle its deck chairs over so many issues....your country is broken.

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How about implementing a decent minimum wage? You know, like heaps of other progressive countries?... Watching America shuffle its deck chairs over so many issues....your country is broken.

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Guest: (61 days ago)

Even the democrats are trying to raise the minimum wage to $15 and the job she is referring to pays $16.50/hour.  The federal minimum is currently $7.25/hour and is $11.00/hour in California.  They are paying way more than minimum wage so why don't you go after companies just paying the bare minimums?

Now the big question is, should the employer be responsible for paying this fictional woman’s childcare?  Is it the employer’s fault that she doesn’t have a husband that works too?  Did the employer tell that woman to have a child she cannot afford? Couldn’t she get roommates to help pay some of that rent?  

$1600 for a 1 bedroom apartment seems excessive.  Sounds like it would be cheaper for her to move elsewhere to get better rent prices.  If she’s driving a 2008 car, I don’t know why her monthly payments would be $400.  The car should have been paid off by now as lenders usually finance for 3 to 6 years max.  

If you bought a used car, it would be significantly cheaper.  A quick look on Edmons shows a 2008 Chrysler Town and Country minivan ranges from $2,315 to $10,981.  Even at the maximum of $10,981 (a rip off) at an interest rate of 4.19% (I looked up a credit union nearby), for 5 years, with no down payment, your monthly payments would be $203.  This congresswoman has drastically over estimated the price of cars.

An income of $35,070 for an entry level job is actually pretty good pay.  If you don’t think you can live off that then you either need to curb your expenses or look for a better paying job.  Like the CEO said, that is just a starter job for people right out of high school.

Original comment

Even the democrats are trying to raise the minimum wage to $15 and the job she is referring to pays $16.50/hour.  The federal minimum is currently $7.25/hour and is $11.00/hour in California.  They are paying way more than minimum wage so why don't you go after companies just paying the bare minimums?

Now the big question is, should the employer be responsible for paying this fictional woman’s childcare?  Is it the employer’s fault that she doesn’t have a husband that works too?  Did the employer tell that woman to have a child she cannot afford? Couldn’t she get roommates to help pay some of that rent?  

$1600 for a 1 bedroom apartment seems excessive.  Sounds like it would be cheaper for her to move elsewhere to get better rent prices.  If she’s driving a 2008 car, I don’t know why her monthly payments would be $400.  The car should have been paid off by now as lenders usually finance for 3 to 6 years max.  

If you bought a used car, it would be significantly cheaper.  A quick look on Edmons shows a 2008 Chrysler Town and Country minivan ranges from $2,315 to $10,981.  Even at the maximum of $10,981 (a rip off) at an interest rate of 4.19% (I looked up a credit union nearby), for 5 years, with no down payment, your monthly payments would be $203.  This congresswoman has drastically over estimated the price of cars.

An income of $35,070 for an entry level job is actually pretty good pay.  If you don’t think you can live off that then you either need to curb your expenses or look for a better paying job.  Like the CEO said, that is just a starter job for people right out of high school.

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Guest: (61 days ago)
Latest comment:

What a sad state of affairs .  So much poverty , so much inequality , so little freedom .  😥   USA has a lot of catching up to do

Original comment
Latest comment:

What a sad state of affairs .  So much poverty , so much inequality , so little freedom .  😥   USA has a lot of catching up to do

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