Jamie Dimon: Shut Her Up!!

So what's President Obama's favorite banker doing when he is not chillin' with the President? 

According to reports, he is attempting to silence one of his employees at the request of Citibank.

Debrahlee Lorenzana filed a lawsuit saying she was fired from her job at Citibank for being too sexy in her work clothes.

She managed to get a new job at JPMorgan Chase, but the media frenzy surrounding Lorenzana is too much for Citibank and they put a  request into JPMorgan Chase head Jamie Dimon to shut her up. Dimon staying tight with the old boys network is trying to muzzle Lorenzana

NyPo has her Dimon intimidation tale:

The Queens stunner said she was told that if she went ahead with scheduled television interviews today to talk about her suit, she'd once again be without a job.

"They asked me if I was going to proceed. They said if I kept talking, it was grounds for termination," Lorenzana, 33, told The Post yesterday.

 The trouble began Thursday at her new job as a personal banker at a Chase branch in Williamsburg, Brooklyn, when stories about her suit against Citibank appeared in the newspapers, she said.

Her boss said Citibank is upset about all the interviews and that the hush order came from CEO Jamie Dimon, the single mom said.

"I said, 'I'm going to speak to the media -- this has nothing to do with you.' "

When she showed up for work Friday, her bosses kept harassing her to call off the planned TV appearances.

"I was under so much stress, [my boss] said it wasn't up to her and that the only thing I can tell you is pray," she said, in response to whether she would be fired.

Then Saturday night, her manager sent her a text message saying her day-off request for Monday was cancelled. But she still plans to appear on NBC's "Today" show and ABC's "Good Morning America" today.

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.

Ace Greenberg on Obama's Favorite Banker

More from Deborah Solomon's interview of Ace Greenberg (Who technically works for JPMorgan Chase since they took over Bear Stearns) :

How do you feel about the Democrats’ push to regulate derivatives?
I feel about it the same way that Jamie Dimon does.

And how is that?
I don’t know how he feels, but I feel the same way. Understand?


Not really.
I don’t want to say anything that might be contrary to how JP Morgan Chase feels. This is a very sensitive topic.

You’re 82 years old, and you’ve led a very full life. Why do you care what Jamie Dimon thinks of you?
I’m in the noon of my career. I’m not going to mess it up.

Obama Muscled the European Union to Bailout the PIIGS

It took American muscle to get the Germans to cough up big bucks to bailout the Greeks. President Obama, no doubt urged on by his bankster controls, put in the calls to European leaders, including Angela Merkel and Nicolas Sarkozy, to bailout BIG. NYT has the mad details:

President Obama had just flown into Hampton, Va., Sunday morning to deliver a commencement address. But before he donned his silky academic robes, he was on the phone with Chancellor Angela Merkel of Germany, offering urgent advice — and some not so subtle prodding — that Europe needed to try something big...Mr. Obama told Mrs. Merkel that the Europeans needed an overwhelming financial rescue to end speculation that the euro — and European unity — could crumble.

“He was trying to convey that he knew these were politically difficult steps that the leaders there had to take, that he had gone through them as well,” said one senior administration official familiar with the conversation. “And that, from his experience, trying to get out ahead as much as possible was the right way to go.”

That call was part of what a senior Treasury Department official called “one long conversation” with European leaders, who over an extraordinary weekend of late nights and early mornings overcame German resistance and agreed to a wholesale expansion of the bloc’s political and financial mission. Bending the rules, they backed the stability of all 16 countries that use the euro with loan guarantees adding up to nearly $1 trillion.

You just know some heavy bankster money had to be on the line somewhere. I wonder how much input came from President Obama's favorite banker, Greek-American Jamie Dimon?

But apparently Obama's silver tongue was not enough, As NYT put it:

Washington was also ready to help, in a limited but crucial way. The Federal Reserve offered to swap euros for dollars, easing pressure on European central banks, which were bleeding dollars.

NYT did not inform their readers of how "limited" this swap might be, so it is difficult to know for sure. However, according to the NY Fed, the last time the Fed launched currency swaps during the current financial crisis, the Fed pumped out $560 billion worth.

Goodbye Goldman Sachs, Hello JPMorgan Chase

Boy does Goldman's CEO Lloyd Blankfein wish he hopped a train to Washington D.C. last December when President Obama called a sit down.  He instead called in because he couldn't fly in the fog. Many consider that a major diss of President Obama.

Since that time it has been all Jamie "Obama's Favorite Banker" Dimon and his JPMorgan Chase, when it comes to White House favoritism.

Alan Prest at PEU Report emails with the latest on the Dimon takeover of financial influence at the  White House:

I researched Obama's Deficit Commission for connections and found a number to JP Morgan.  As noted before co-chair Erskine Bowles is senior advisor with a private equity firm.  FYI: here.

Also, the chair of Virginia's government restructuring commission is a private equity man, currently with Thayer and formerly of The Carlyle Group:  Here.

The club gets to remake the board to their favor.  Sweet!

Obama's Favorite Banker Gets Billion Dollar Tax Break

JPMorgan Chase, headed by Obama's favorite banker, Jamie Dimon,  is near a deal that would allow it to benefit from a tax refund of as much as $1.4 billion, as the result of a little-noticed plank in an economic stimulus bill, reports WSJ.

As I have said, many times before, most legislation that now goes through Congress contains paragraphs and provisions that few understand (sometimes less than five people). Yet, the few who do understand benefit dramatically by the provisions.

In the securities business, I know a complex provision (too complex to explain in a blog post) that perhaps a dozen people on Wall Street truly understand.  Yet, those dozen who do understand the provision  are taking advantage of it to the tune of millions a year. At the same time the provision distorts and makes it exceedingly difficult for small companies to raise money.

These types of provisions, you can safely bet, are all over the ObamaCare legislation. It will distort healthcare in America for the advantage of those who had the power to insert this or that provision in the legislation.

Wall Street's Influence On Barack Obama

Two spheres of influence appear to circle around Barack Obama. Wall Street investment bankers, who have paid, through donations, to sit at the Obama table, and fellow traveling lefties who appear to be kindred spirits with Obama. Here's a breakdown on the Wall Street influence.

Naturally, Goldman Sachs won't miss a beat with the Obama Administration.

Governor Jon Corzine of New Jersey, former CEO of Goldman Sachs is close to Obama, and what I call the Robert Rubin Wing of Goldman Sachs will have a very strong presence in the Obama Administration. Rubin served as Co-Chairman and Co-Senior Partner at Goldman Sachs from 1990 to 1992. He later became Secretary of the Treasury in the Clinton Administration. He is now Director and Senior Counselor of Citigroup, and co-Chairman of the Council on Foreign Relations. In addition to Rubin, himself, being a player in the Obama Administration, many around Rubin appear to have likely roles in an Obama Administration.

Lawrence H. Summers, rumored to be a strong candidate for the position of Treasury Secretary, served under Rubin as Deputy Secretary, when Rubin was Treasury Secretary. He also is an Advisory Council Member of Rubin's very own think tank, The Hamilton Project.

Jason Furman, a senior fellow at The Hamilton Project, is an economic adviser to Obama and is likely to be offered some position in an Obama Administration.

Others from the Rubin Wing of Goldman that may end up with positions in the coming Obama Administration are:

Michael Froman, a top executive at Citigroup, who served as Rubin's chief of staff at Treasury.

Jamie Rubin, the son of the former Treasury secretary.

Kevin Thurm, an executive at Citigroup.

Frank Brosens, who runs Taconic Capital Advisors and is seen as very close to Rubin.

Non-Goldman players close to Obama include:

Jamie Dimon, chairman and CEO of JPMorgan Chase & Co

Robert Wolf, an investment banker and CEO of UBS Americas

Mark Gallogly, a private-equity expert who used to work for Blackstone

Jim Torrey, Hedge fund manager Jim Torrey

Josh Gotbaum, the former chief executive of the September 11 Fund who has worked for the Carter and Clinton administrations and Lazard Freres.

Obama has also relied on the left leaning, pro-tax hikes, senior advisers Warren Buffett and Paul Volcker.

At a recent conference held by the Financial Professionals Association, economist Marty Feldstein told the conference that Buffett and Volcker were being used by Obama as fronts to hide a much more radical left agenda that Obama believes in.

It's Not A Frozen Credit Market, It's A Sane, Getting Back To Basics, Credit Market

JPMorganChase Chairman Jamie Dimon on a conference call yesterday:

The [mortgage] origination business, and I think it's true for a lot of people in the industry, ...people have gone back to old fashioned 80% LTV, real verified income, more disciplined appraisals, and then in some areas they won't even go to 85% LTV because of expected home decreases so we are not at 85% in California, Nevada, or Florida we're at 65. So that's why it's down. I think it's true for us and everybody else.

NY Fed Holding Emergency Meeting On Lehman's Future

From WSJ:

In attendance are New York Fed President Timothy Geithner, Mr. Paulson and Securities and Exchange Commission Chairman Christopher Cox. The Wall Street executives included Morgan Stanley Chief Executive John Mack, Merrill Lynch Chief Executive John Thain, J.P. Morgan Chase CEO Jamie Dimon, Goldman Sachs Group CEO Lloyd Blankfein, Citigroup Inc. head Vikram Pandit and representatives from the Royal Bank of Scotland Group PLC and Bank of New York Mellon Corp., among others.

-EPJ Newsdesk