Jamie Dimon Whines that Corporate America is Suffering Unfair "Vilification" → Washingtons Blog
Jamie Dimon Whines that Corporate America is Suffering Unfair "Vilification" - Washingtons Blog

Thursday, March 12, 2009

Jamie Dimon Whines that Corporate America is Suffering Unfair "Vilification"


Jamie Dimon - head of the second largest bank, JP Morgan- is whining about the "vilification" of corporate America for the financial crisis.

Dimon is one to talk.

JP Morgan is by far the largest holder of derivatives.

JP Morgan also invented credit default swaps, which are largely responsible for the crisis, and is itself one of the largest CDS counterparties.

Government bailout money given to JP Morgan was invested in India.

JP Morgan also made bets that companies like GM - which actually make something (even if they are gas-guzzlers) - would fail. Such bets have sped up the demise of GM.

Damon also said "he was 'very optimistic' about JP Morgan and its ability to work through the financial crisis."

Uh huh . . .

Whenever the head of a corporation says he is optimistic that the company will survive, you know it is about to crash and burn. That's what the heads of Bear and Lehman and WaMu and every other failed company said right before their companies failed

In reality, JP Morgan is one of 5 "dead man walking" banks whose credit default swaps and other exotic investments have doomed the company to the dustbin. See this.

1 comment:

  1. It is well known that sociopaths/psychopaths often use the victim ploy when they are cornered.

    "Whenever the head of a corporation says he is optimistic that the company will survive, you know it is about to crash and burn."

    Very true. It's always a sign.

    ReplyDelete

→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).

→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).

→ The following types of comments will be deleted if we happen to see them:

-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over

-- Comments that explicitly call for violence

→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.