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« VIDEO - Tim Geithner On Wall Street, Main Street Rift - Fairness In U.S. Economy | Main | Jamie Dimon Loves Bernanke's Stealth Bailout Sugar »
Thursday
Jan262012

VIDEO - Jamie Dimon Tells Charlie Gasparino: Anti-Banking Sentiment Is 'A Form Of Discrimination'

Video - Jamie Dimon on Obama, the 2012 election and Occupy Wall Street - Jan. 24, 2012

You'll remember that Dimon made a similar complaint to Bernanke last year during a public Q&A from the Fed Chairman.

Listen up, Dimon.  The Fed is your one and only best friend, secretly passing you trillions, and you decide to complain publicly about stronger capital requirements and regulators who might actually be doing the job, of well, regulating.  If it's a free market he's after, then let's be clear: there's no Federal Reserve, no discount window borrowing, and no bailouts.

Guess what that means, Jamie?  There's no JP Morgan.  

Goodbye and good riddance.

---

Source - Huff Po

Jamie Dimon, the head of JPMorgan Chase, would like to make it clear that he is not that kind of banker.

"I've disagreed right from the beginning of this blanket blame of all banks.  I don't like that. I think that's just a form of discrimination that should be stopped."

Dimon, who has been CEO of JPMorgan Chase since 2005, didn't get specific about whom he'd rather not be lumped in with. He seemed, though, to be trying to draw a distinction between his own company -- which accepted a bailout from the Troubled Asset Relief Program, but is generally seen as having weathered the financial crisis better than many other major firms -- and banks that needed a greater degree of government assistance during and after the meltdown.

But Dimon's critics may not be persuaded by his argument. After all, JPMorgan Chase received $25 billion through the U.S. Treasury under TARP and at least $3 billion from the Federal Reserve in 2008 -- the same year that Dimon took home about $19.7 million in salary, stock and options. Dimon's compensation later climbed to $23 million in 2010 and 2011, as JPMorgan overtook Bank of America to become the nation's largest bank by assets.

Pay packages on that scale are unlikely to endear Dimon to his detractors, of which he has many.The Occupy Wall Street movement has demonstrated at Dimon's speaking events and organized marches outside JPMorgan Chase buildings. Politicians -- including President Obama -- have said that the lopsided concentration of wealth in America is contributing to the country's economic woes.

Even so, when Gasparino brought up the Occupy movement, Dimon struck a diplomatic tone, discussing the protests in language that was almost identical to comments he made in November.

"There are parts I agree with and there are parts I don't," Dimon told Gasparino. "It is fair for the average American to say that the major institutions of America let me down. That's true. And it is fair, generically, to say that it was predominantly Wall Street and Washington... I think once you go beyond that, and say all politicians, all banks, all bankers -- that's terrible. I don't accept that."

The interview was taped shortly before Dimon left for the World Economic Forum summit in Davos, Switzerland, where Dimon said he will be speaking with other attendees about financial regulation. At last year's Davos summit, Dimon made similar remarks pushing back against the vilification of the banking industry, calling it "a really unproductive and unfair way of treating people."

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Reader Comments (8)

"I've disagreed right from the beginning of this blanket blame of all banks. I don't like that. I think that's just a form of discrimination that should be stopped."

Ahhh, so now we know what Jamie Dimon's $4.6 MM contribution to the New York Police Department was really all about. Thanks for clarifying.

Well, JPM's bribery tactic failed--Anthony Bologna's pepperspray notwithstanding. And it's gonna continue to fail, Jamie, because you're a failure and everyone knows you're a failure along with your D.C. cronies. Mother Nature's gonna have her way with you one way or another, and then you're gonna stop, sir, dead in your tracks.
Jan 26, 2012 at 3:04 PM | Unregistered CommenterCheyenne
Poor Jamie, he feels so misunderstood. My response: STFU Dimon, get a real job. Crash JP Morgan, buy silver.
Jan 26, 2012 at 6:35 PM | Unregistered Commenterwooddragon
Collectively the investment bankers have placed themselves outside Humanity.
And now they feel discriminated against.
ahwww, they hate being treated like the crooks they are,
moreover they delude themselves as victims in this matter.

Try getting a mortgage today and you will find out how it feels to get discriminated against.
Jan 27, 2012 at 12:50 AM | Unregistered CommenterFliteShare
I personally found the rape of America at the hands of the bankers to be discriminatory, but ain't that just like a rapist to blame the victim...
Jan 27, 2012 at 1:09 AM | Unregistered CommenterS. Gompers
Well played , Gomp. Very well played.
Jan 27, 2012 at 5:09 PM | Registered CommenterDailyBail
Thank you...
Jan 27, 2012 at 10:40 PM | Unregistered CommenterS. Gompers
And to think they call not wanting to be screwed by them "class warfare"...

Sex should be voluntary, not forced.
Jan 27, 2012 at 10:42 PM | Unregistered CommenterS. Gompers
years ago, real bankers and business leaders would occassionaly find need to hire a lawyer for legal advice. today, the lawyers are now running the banks, wall street, corporate america, the gov't, and politics. benchmark the infiltration, invasion and leadership switch from business people to the lawyers, and you will pinpoint the beginning of the downfall of america. its the lawyers stupid. some day the occupy will get it - occupt the lawyers industrial complex
Jan 30, 2012 at 8:20 AM | Unregistered Commenteraa

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