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JPMorgan Chase Spends $500 Million On a Data Center

Posted by samzenpus on from the first-class-center dept.

1sockchuck writes "JPMorgan Chase spends $500 million to build a data center, according to CEO Jamie Dimon. That figure places the firm's facilities among the most expensive in the industry, on a par with investments by Google and Microsoft in their largest data centers. Dimon discussed the firm's IT spending in an interview in which he asserts that huge data centers are among the advantages of ginormous banks. Dimon also offered a vigorous defense of the U.S. banking industry. 'Most bankers are decent, honorable people,' Dimon says. 'We're wrapped up in all this crap right now. We made a mistake. We're sorry. It doesn't detract from all the good things we've done. I am not responsible for the financial crisis.'"

5 of 275 comments (clear)

  1. Line Item by Galactic+Dominator · · Score: 5, Insightful

    It doesn't detract from all the good things we've done.

    Can I get a line item listing of these "good things"?

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    brandelf -t FreeBSD /brain
  2. Oh, shut up by realmolo · · Score: 5, Insightful

    'We're wrapped up in all this crap right now. We made a mistake. We're sorry. It doesn't detract from all the good things we've done. I am not responsible for the financial crisis."

    Actually, it *is* your fault, and it *does* detract from everything you've done.

    It's like a daycare provider saying "Sorry that we sold your kids' organs. It seemed like a good investment. But it shouldn't detract from the great job we were doing before that!"

    Banks are supposed to MAKE money, not lose it. And they lost money on a MASSIVE scale due to incompetence and especially greed. Everything they do is tainted, forever.

    1. Re:Oh, shut up by Anonymous Coward · · Score: 5, Insightful

      Also, it wasn't a mistake... it was premeditated fraud.

  3. Riiiiight by Nerdfest · · Score: 5, Insightful

    I am not responsible for the financial crisis.

    No raindrop feels it's responsible for the flood.

  4. Really. by rickb928 · · Score: 5, Insightful

    "I am not responsible for the financial crisis."

    No, but the people who work for you were. And you're supposed to be in charge.

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    deleting the extra space after periods so i can stay relevant, yeah.