Why Jamie Dimon Is Afraid Of Elizabeth Warren

TIME:

There are a lot of reasons to like the idea of a consumer financial protection agency. My colleagues Barbara Kiviat and Michael Grunwald have made the more substantive ones here, here and here. But I think I have stumbled across possibly the most telling data point yet on why the CFPA is likely a good idea: Jamie Dimon is scared of debating Elizabeth Warren on the topic.

Read the whole story: TIME

Comments

[HarmNone]

10:52 AM on 06/10/2010

Elizabeth Warren is awesome, an official who has the average American's interests at heart, and he should be afraid:

from: "Why Jaimie Dimon is Afraid of Debating Elizabeth Warren on CFPA", Time Magazine, the Curious Capitalist:

"Elizabeth is at her best when she deploys that razor-sharp eloquence in defense of the American consumer. Some of her ideas are controversial, but we always listen because her powerful intellect and plainspoken articulation prove to be an irresistible combination. Of all the victims of the damage done in the past two years by the financial meltdown and the ensuing economic downturn, consumers have suffered the most. But that may soon come to an end if Elizabeth has her way and Congress establishes a new and independent consumer watchdog for financial products. I say high time."

[feliznavidad]

12:57 PM on 05/08/2010

Its bad enough that executives won't put their mouth where their money is when it comes to defending their positions, but it's inexcusable that the Chamber of Commerce, a so-called service association with many small business member, does the same. How many small businesses relish the idea of having their interest rates stealthily raised, etc. Most businesses in this country would benefit from so-called "consumer" banking protection. More and more the Chamber is part of the right wing echo chamber, and they don't champion "free" markets so much as they do running the field for making it easier for banksters to steal. Shame on you Chamber.

[sposton]

10:22 AM on 05/08/2010

This is news created by a blogger. The idea that Dimon or any other banksters would be willing to debate Warren is ludicrous. A refusal is to be expected.

Debating a human would unnecessarily lower any bankster to a mere human level. Why would any bankster do that? ;-)

[PS9]

07:34 AM on 05/08/2010

Ask this woman how she feels about the infusion of $10 billion more tax dollars into Freddie Mac.

Freddie Mac, and FNMA are government sponsored entities designed to allow "Main Street" homeowners easier access to cheap mortgages.

They are a Government designed monstrosity bleeding money to help consumers. backing

[374662]

11:01 AM on 05/07/2010

I understand he won't debate because he is afraid of her.

She may not want to compete in a useless debate that is a duel of wits with an unarmed opponent. She has far more important things to do with her.

[JPMac]

10:37 AM on 05/07/2010

Since when do CEO's debate members of the administration. Will Obama debate people in business or anywhere else that have a different view point...nope!

Mr. Diamon has much better things to do.

[tck29]

12:06 PM on 05/07/2010

Like rape the global economy?

[gottomortone]

06:26 PM on 05/07/2010

To answer your question, heck yeah, Obama would debate "people in business or anywhere else that have different viewpoints" -He's been doing that ever since he came into office.

Obviously it's people like you who gave us George W., who ruined our economy, trounced it, then went back in reverse to run over it again and ruin it some more. BTW, thanks a lot for that.... And no, he nor Cheney did not care to debate or hear anything from anyone with "different viewpoints"

What you also don't seem to understand that figuratively, Dimon owns this country. He owns me, he owns you, in ways you can't begin to fathom because you condense to your right wing mantras and let him go hide with this nation's billions that will never be returned into our economy except in only the manner that he wishes, and nothing else, if he has his way.

Good lord, uneducated moronic brainwashed people who support so many things against their very own best interests make me sick.

[GeoLee]

02:37 AM on 05/07/2010

I wish this woman would run fo president as an independent. I think she would win! Right now she is one of the most trusted women in America. Frankly, even Obama is scare fo her, I think.

[GeoLee]

02:35 AM on 05/07/2010

She would eat his lunch in language we all could understand. They guy is one big chicken...brought down by a smart woman.

[PS9]

07:35 AM on 05/08/2010

I doubt that very much. Dimon would do just fine junior.

[freespeech2]

06:23 PM on 05/06/2010

The author proposes a bus tour/debate, Warren says yes, Dimon says no.
Assumption: Dimon is scared of Warren.
Did anyone stop to think that Dimon would be irresponsible to his shareholders to spend the time on a circus tour?
Scared? Perhaps. Proof? None.
Idiotic premise and conclusion? Absolutely.

[MrOctober]

01:04 AM on 05/07/2010

A long bus tour debating national policy vs. helicoptering out to the Hamptons for 3 or 4 weeks. It's not like it's any different to the company's shareholders.

[PS9]

07:36 AM on 05/08/2010

Dimon doesn't stop working long enough to take long weekends in the Hamptons.

[tck29]

12:07 PM on 05/07/2010

OK. So just agree to state why his corp is against the CFPA. It's an indefensible position and that's why he won't engage.

[ipogo]

11:53 AM on 05/06/2010

Sounds to me like one of the "Sharks" on Wall Street, has a little "chicken" in his genetic background.

[JScott]

10:51 AM on 05/06/2010

JP Morgan CEO Refuses To Debate Consumer Champion Elizabeth Warren

BOTTOM LINE:

Why because he's WRONG and he would LOSE.

[blood1]

10:42 AM on 05/06/2010

As JPMorgan execs continue to shoot themselves by circulating email screeds that go viral, ya gotta laugh about the "fear" that Dimon should have. Now maybe all these Wall Street Brokers who work all those long hours ( by their own reckoning is 5AM to 10PM) don't make time to do anything but work, but the rest of the us READ and I would be willing to pay to see this debate. Please oh Please Jaime, show some cojones and try and go toe to toe with someone who is very knowledgeable about all the goings on behind your closed doors.

[PS9]

07:38 AM on 05/08/2010

What do you READ? Same minded bloggers rantings?

[TracerTong]

10:32 AM on 05/06/2010

Two reasons. First, Jamie Dimon studied Pyschology and Economics before settling into an MBA and joining the work world. Elizabeth Warren is a law student that has spent most of her career in academia. Quite frankly, Mr. Dimon wouldn't stand a chance of matching Warren.

Second, the last thing JP Morgan wants is to tell Americans that they don't need any more protection. They're okay with telling the White House that consumers are already well protected, but they don't want to actually tell us that because they know it's not what we want to hear.

[PS9]

07:40 AM on 05/08/2010

So your point is that a life long academic who was handed a soap box and mega phone would win a debate with a person with thirty years of real life work experience?

[TaoJonz]

09:38 AM on 05/06/2010

Elizabeth Warren is the smartest, most articulate woman in Washington today. I would think a LOT of people are afraid of an open debate with her. I'd like to plant her on CSPAN in an open debate with the banking industry, Fannie and Freddie, and every Senator on both sides of the aisle who sell their opinions to lobbyists. This is far to much to hope for, however. My abiding hope is that the job she is valiantly trying to do remains fully supported, and backed up by the Administration. Her frustration with the money that influences these very discussions is palpable...but who has the keys to change here? Seems to me, campaign reform would go a long way to get smart, capable people like Warren the traction she needs.

[Corners]

08:56 AM on 05/06/2010

I never understand why its always the things that consumers need the most always gets watered down to nothing. Then like a sick joke they put the agency in control of the fed, the most industry friendly regulator we have, and that's saying something.