Jamie Dimon of JPMorgan Chase – Obama’s Favorite Banker

Who is Jamie Dimon? Ever heard of Jamie Dimon? Well he is a banker on Wall Street who works for JPMorgan Chase bank. He has been touted by Obama as being a fair and ethical banker, who stood alone as a REAL banker and not a gambler during the ramp to the financial disaster at the end of this centuries first decade. While the other banks like Citigroup, Bear Stearns, Merrill Lynch, and Lehman Brothers were risking everyone’s money on risky mortgages and “exotic financial instruments”, Jamie Dimon was following the old school rules of banking, “be a banker – not a gambler”. You see bankers can get rich without getting greedy risking OUR money for stupid profits.

So when other investment houses were licking their lips as they made record profits with Monopoly derivatives, smoke and mirrors, and weighted dice, Jamie at JPMorgan Chase was cautiously making a very good profit for their investors and “note holders”. So when the inevitable happened last year, guess who gobbled up Bear Stearns and Washington Mutual – that’s right, Dimon did. For a full account of the Jamie Dimon’s history read the book, “The Last Man Standing – The Ascent of Jamie Dimon and JPMorgan Chase”. The author is Duff McDonald.

Read this article, “The Man Who Could Salvage Wall Street” on Yahoo News for more information about Dimon.

There were many rumors floating around about Dimon going to Washington to work for Obama as Secretary of the Treasury, but nothing has come of it. I’m sure millions of American and American businesses (not to mention the the entire world) would have a pause for relief if Dimon became Treasury Secretary, considering his now famous reputation for prudent and ethical decisions. I know I would.

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This was written by . Posted on Saturday, October 17, 2009, at 5:48 pm. Filed under Banks. Tagged jamie dimon, jpmorgan chase, obama, treasury secretary, wall street. Bookmark the permalink. Follow comments here with the RSS feed. Post a comment or leave a trackback.

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2 Responses to “Jamie Dimon of JPMorgan Chase – Obama’s Favorite Banker”

1
Markus Orelious Says:
October 20th, 2009 at 12:44 pm
I wouldn’t portray Jamie Dimon as some sort of perfectly ethical banker beyond reproach. He is still a shark in the water who takes advantage of companies who have fallen on hard times.
2
CLFadmin Says:
October 20th, 2009 at 1:04 pm
Dimon is quite ethical – once you read the books that have been written about him.