JPMorgan to invest up to $10 billion in US national security as part of $1.5 trillion pledge
CEO DIMON: INITIATIVE NOT TRUMP-DRIVEN, ‘100% COMMERCIAL’
U.S. President Donald Trump is looking to modernize infrastructure and reduce dependence on foreign supply chains, particularly in sectors such as pharmaceuticals, semiconductors, clean energy and rare earth minerals.
Trump has criticized JPMorgan and its rivals for “debanking” clients – cutting ties with certain customers by closing their accounts or refusing to do business with them – for their political or religious beliefs.
JPMorgan CEO Jamie Dimon said the investments were not driven by the Trump administration.
“This is a JPMorgan initiative,” Dimon told journalists on a call in which he was asked several times about the government’s involvement. He emphasized that the investments would be “100% commercial” and not philanthropic.
Hmm… I wonder who they’re going to invest in? /s
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