Terrific: TARP recipient JP Morgan spends $138 million on new jets, hangar

The Gulfstream 650’s are described by the manufacturer as the “fastest,” “widest” and “most comfortable” private jet ever with superior cabin amenities, an optional stateroom, and 12 interior designs to choose from.

“It’s a remarkably boneheaded decision,” said corporate watchdog Nell Minow, the editor and founder of The Corporate Library, a group that provides independent corporate governance research and analysis. “It’s completely tone deaf.”…

Joseph Evangelisti, a spokesman for JPMorgan Chase, said no TARP money would be used to make any payments for new jets or jet hangar improvements.