President Barack Obama has $1 million account with JP Morgan, personal wealth of up to $10 million

The president’s 2011 disclosures also included a regular JPMorgan Chase
checking account in the $1,000 to $15,000 range.

His other principal assets included $500,000 to $1 million in US Treasury
bills and between $1 million and $5 million in US Treasury notes.

The assets appear to add up to anywhere between $2.6 million and $9.9 million.

Mr Obama also has a mortgage on his Chicago home of between $500,000 and $1
million.

In an appearance on the daytime TV show “The View,” which was taped
on Monday, Mr Obama praised Mr Dimon and said the bankメs losses showed the
need for tighter regulation.

He said Mr Dimon was “one of the smartest bankers we got and they still
lost money.”

He said: モThey still lost $2 billion dollars and counting precisely because
they were making bets in these derivative markets. This is why we passed
Wall Street reform.

“You could have a bank that isn’t as strong, isn’t as profitable making
those same bets and we (the government) might have had to step in. That’s
exactly why Wall Street reform’s so important.ヤ

Public figures in the US are required by law to publish their assets and
investments to avoid conflicts of interest, and the White House releases
disclosures for both Mr Obama and Vice President Joe Biden each year.

Most of Mr Obama’s personal wealth comes from book royalties, including from
his best selling autobiography “Dreams From My Father.”

Mr Biden is significantly less wealthy with less than $1 million in assets and
up to $1.5 million in liabilities, most of which is owed on his home.

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