Tuesday, May 15, 2012

"We Know We Were Stupid"

Hey, Barack! I know I'm not some awesome strategist who understands the awesome political benefits of cutting social security, but a brief bit of unsolicited advice: STOP PRAISING JAIME FUCKING DIMON!
“JPMorgan is one of the best managed banks there is,” Obama said. “Jamie Dimon, the head of it, is one of the smartest bankers we got and they still lost $2 billion and counting,”
Jaime Dimon, two days ago:
So we’ve had audit, legal, risk, compliance, some of our best people looking at all of that. We know were sloppy. We know we were stupid. We know there was bad judgment. We don’t know if any of that’s true yet. Of course, regulators should look at something like this, that’s their job. We are totally open to regulators, and they will come to their own conclusions. But we intend to fix it, learn from it and be a better company when it’s done.
Jaime Dimon, several months ago:
JPMorgan’s Dimon obviously doesn’t think a whole lot of the scheme.

“Paul Volcker by his own admission has said he doesn’t understand capital markets,” Dimon told Francis in the Fox Business interview. “He has proven that to me.”

Dimon also went on to say we won’t destroy the market, it will simply “go overseas.”
Can we buy your airfare? What will we ever do without your understanding of capital markets???

We know that Obama and Dimon and best buddies, so I don't expect him to have any less influence but the idiocy of having Obama praise him is fairly stunning. Who let that happen? For all the shit we've given Romney over his rich person's tourettes, this is honestly just as bad.


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  2. Just what does it take for a CEO to be held responsible for his mistakes?