Tuesday, May 25, 2010

Jamie Dimon Is Now Also Paul Volcker's Favorite Banker

Move over President Obama, not only is Jamie Dimon your favorite banker, he is also Paul Volcker's favorite banker.

Reuters has the details:
[ At the Japan Society's Annual Dinner in New York] White House Economic Adviser and former Federal Reserve Chairman Paul Volcker introduced Dimon, 54, as a man "at the top of his game" and said under his leadership JPMorgan "maintained stability throughout the crisis."
I can't think of any other active banker that the Rockefeller controlled Volcker would put in that category. If you are concerned that this might get to Dimon's head, it's too late for intervention. It already has. Reuters, again:

"I'm also proud to call myself a banker," Dimon said [at the dinner].

Of course, Volcker did forget to mention that, during the first phase of the crisis, Dimon's bank was gifted Bear Stearns and Washington Mutual. It's pretty easy to maintain stability with those kinds of gifts. And EPJ Irregular Bob English is working on a blockbuster story that may explain some of the other help Jamie is getting to  maintain that stability. Stay Tuned.

1 comment:

  1. Listening to Volcker praise Dimon is like listening to a hitman praise a mafia don... the man is a (former) employee of the banking cartel, this is one scumbag showing his appreciation for the scumbag one step above him.