Lets do the math.
If JPMorgan pays $500.00 per hour for legal aid that’s 18,400,000 hours. 18,4 Million hours? Lets keep doing math… Lets say 2000 hours per year per person; that’s 9,200 employees, full-time.
How is that possible? Even if they’re paying $1000 per hour (which would be, well, ridiculous).
Some other crazy details. They have $31 billion in reserves now for Legal and claim to be under reserved. They’re expecting to need another $6 billion!
Do the math with $37 billion and JPMorgan could employee the entire state of Ohio, forever…
But all that brings to mind, this. It’s a crazy world.
Stumbled on a decent piece at euromoney.com: JPMorgan Bids up Legal…