Dimon in the hot seat
I didn’t make that term up, though I wish I had. But I can tell you a lot of people have it. Bad, after JP Morgan Chase honcho Jamie Dimons steps in it, big time. A flashback: recall that Dimon was the guy who complained the loudest (well, maybe some of his Wall Street pals stomped harder…) about “unfair” banking regulations and the “demonization” of Wall Street by President Barack Obama. Now, it turns out Obama and Congress probably should have made Dodd-Frank even stricter — I’m sure that’s what JP Morgan Chase’s investors, who are out $2 billion, are thinking right now.
Meanwhile, Dimon has reportedly retaped his “Meet the Press” interview, which should make Mother’s Day fun.
Happy weekend, Jamie! No, actually I don’t mean that…
WTF Has Barack Obama Done So Far?
I think Jamie’s Glass-Steagall is half empty. We need the Glass-Steagall Act reinstated to keep arrogant gamblers like Dimon out of the government-insured side of banking.