Jimmy B. Lee Died and Guess What. He Was an SOB.

Jimmy B. Lee died the other day and I can tell you I am not sorry. He was pure evil. Oh sure, he loved his family and condolences to them. Family loved him, and so did his rich friends.

But Jimmy was not doing nice things. He died at 62. That is a nice young age for not so nice people to kick the bucket.

Lee was in charge of mergers and investment banking at JP Morgan. He was responsible for lots of other family men losing their jobs as his merger mania was practically an assault on the middle class. Most of these merger deals were between companies that were profitable just doing their own thing.

And the United-Continental merge he facilitated has been seen as a disaster. From Barons here is a viewer comment: 
What's wrong? They merged that's what's wrong. I was a Continental frequent flier and flew twice sometimes three times a year internationally. With the merger they screwed their frequent fliers so now I don't travel as much and saving a lot of money.
Continental was an excellent airline and their employees were the best in the industry. With the merger Continental had to do down to United's rotten culture.

No one knows how these mergers work out in the long run. These companies often are saddled with additional high interest junk debt and employees forced to work even harder because of the merger. Service declines, as we see with Continental.

Other than oil companies, most companies that merge make huge profits and stifle competition. This is bad. And with oil, it is the merged big banksters who drive up the price of oil and make the proftis of skimming off the top.

But what set Jimmy B. Lee apart was his wicked politics, as he attacked the middle class through his politics. It wasn't enough for him to attack the middle class through mergers, he did it through what was known as Fix the Debt.

Turns out that Fix the Debt was a plan to screw the middle class like no other. Tax advantages for the rich and austerity for the rest of us was the Pete Peterson plan as a driving force in Fix the Debt. He incorporated Jimmy B. and others to help him implement these programs.

The destruction of benefits to Social Security recipients is high on the Fix the Debt agenda. Making seniors pay more out of pocket for Medicare is another. But corporate tax breaks resulting from the implementation of these austerity policies is the ultimate goal of Fix the Debt.

Jimmy B. Lee was a fearless capitalist asshole to everyone but his crony capitalist buddies. Let no one forget that.

You have to conclude that it would be just if God called Pete Peterson, the poster boy for tax breaks for the rich, to an early grave. But sometimes evil men live to a ripe old age.

Certainly Gilligan from AMX, who screwed cardholders by raising rates in the face of Fed funds going to .25 percent, was called away from his luxury life at a young age. It is beginning to be time for godly payback.

See also: Ed Gilligan of AMX Dies Suddenly


Popular posts from this blog

Learn Economics

The Unholy Alliance of Big Banking, Neocons, Big Media and Israel

John Mauldin Discusses What Could Go Wrong