Last week, poor, hopeless, laid-off janitors from one of JPMorgan‘s loosely-managed buildings in California came to New York with a pipe dream, to beg Jamie Dimon for their jobs back.Not surprisingly, because JPMorgan had very little to do with the layoffs directly, Dimon couldn’t help and they are still laid off. (The same thing happened in JPM’s headquarters in New York.)
But the New York Times has a different take. The sad paupers never had a chance, they say, because Jamie Dimon is much too rich to waste his time with peasants.
He is royalty, and they are from the peasant class.
Mr. Dimon’s universe is orders of magnitude different from the one that Martha Escobar is scrambling around in. He talks to the Geithners and Bernankes and Larry Summerses of the world.
The paycheck Ms. Escobar used to get wouldn’t cover Jamie Dimon’s dinner tab.
While Dimon is feasting on the pre-layoff salary, $13.50/hour, of one janitor – during a mid-morning snack, janitor, Martha Escobar, is cold, hungry, and shaking –
Martha Escobar is staring into the cold, dark, unforgiving eyes of destitution.
Dimon won’t even toss her his napkin for a blanket.
If there is a point to the NYT’s crude juxtaposition, it’s that rich people don’t care about things that aren’t their problem.
As it turns out:
The layoffs were ordered by a maintenance contractor, ABM Industries.
Not JPMorgan. Here’s their connection to the building:
JPMorgan Asset Management, a unit of the vast JPMorgan Chase empire, manages an intricate investment web that owns the buildings.
So Jamie Dimon is as divorced from the janitors’ losing their jobs as he is from the homeless guy on the street that went to highschool with his second-cousin. But it is good to remember that rich people should do more to help the poor.