Jamie Dimon "In The Hot Seat," May Be Next To Fall: Charlie Gasparino

The Daily Beast:

Jamie Dimon is in the hot seat. You wouldn't know from the endless glowing press accounts he's received for steering JP Morgan Chase fairly clear of the sub-prime debt crisis that has already taken out two firms--Bear Stearns and Lehman Brothers--and forced the federal government to bailout the once mighty Citigroup with billions in aid and other measures.

But Dimon is feeling that heat, nonetheless, from analysts, who believe his firm will post a lost this quarter, the first since he became CEO in 2006; from fellow CEOs, who believe he took advantage of competitors during the height of the financial crisis in mid-September; and now even some of his own board members, who believe their straight-talking CEO spoke a little too straight in a recent CNBC interview when he described in graphic terms the problems facing JP Morgan and the rest of the financial business. Following Dimon's remarks, which he then repeated in a speech, the Dow Jones Industrial Average fell nearly 200 points, and shares of JP Morgan were among the biggest losers, tanking nearly 10 percent.

Read the whole story: The Daily Beast

Comments

[Faraja]

06:32 AM on 01/06/2009

This article is completely nonsense. Don’t even waste your time to read it.

[playscape]

08:44 PM on 01/05/2009

Whatever modicum of credibility Gasparino had is lost with this nonsense. This is the worst kind of online journalism -- hot air masquerading as a scoop. The journalist trying to make news. Shameful and shameless.

The only way Dimon leaves JP Morgan in the next 5 years is if the govt. combines Citi w/ BofA and asks him to run it.

[satyriasis]

07:46 PM on 01/05/2009

I hope Dimon stays on. He's a good guy and he dared to tell the truth. The last thing anyone should lose their job for is telling the truth, especially to the public. God know we don't get the truth from anybody. The little truth we do get from anyone in a position of influence and power should be savored.

[Glinda]

06:34 PM on 01/05/2009

Another whisper campaign with Charlie Gasparino at the center of it?

When will that idiot be investigated?

[djgonebad]

11:18 PM on 01/05/2009

Their lining up like dominos.

[newpotusplease]

05:49 PM on 01/05/2009

oh but Erin Burnett and Maria love him

[Justinpassing]

05:46 PM on 01/05/2009

Dimon should have known that there is no market for truth and or ethical business practices in America anymore...... and doubly so on Wall Street........ Lets ask Hank Paulson about how he took insider trading to the next level while he was CEO at Goldman Sachs making money off shorting the very 'INVESTMENTS' they were selling to the gullible.

[thelosinggame]

07:22 PM on 01/05/2009

I agree Justin, except there are ethical people with ethical business practices all across the country, and they are laying off workers and cutting back on purchases because of what is happening on Wall Street. Is Dimon honest? Is there such a thing as an honest bookie? Because that's all these Wall Street Managers are, transferring the money of the masses into the pockets of the few. www.losinggame.com