Dear Jamie Dimon,
I must say I was concerned and disheartened by your comments a few months ago regarding the uprising against Wall Street greed and the resulting Occupy movement. In case you forgot, you said: "Acting like everyone who's been successful is bad and that everyone who is rich is bad. I just don't get it."
Now, Mr. Dimon, if you sincerely believe people are not impressed and proud of your success, you are completely wrong. Everyone strives to be as successful as you, and no one is criticizing you for it. In fact, your income, along with many other Wall Street executives, has risen drastically since President Barack Obama took office. To suggest the President or anyone else is mad about your success or is out to get you is, well, foolish.
But, sir, you must also understand a few things. Yes, you are successful, but it is selfish and ignorant to claim all credit for your success. You were lucky enough to be born on the affluent Upper East Side of Manhattan. Your parents had the means to send you to a prominent prep school, and later on to a prestigious private university. With all due respect, Mr. Dimon, you did absolutely nothing to get yourself in such a favorable position.
My guess is, Mr. Dimon, that if, through no fault of your own, you were instead born into a poor, African-American family in the Bronx, you would not be as well off as you are now. Instead of attending the Browning School for high school, you would have been in a rough public school with worse teachers and less resources. Instead of Tufts University, you likely would have attended a public university, if you were even able to pay for that.
Mr. Dimon, it may help if you consider the following statistic: 62 percent of Americans raised in the top fifth of incomes stay in the top two-fifths as adults. In other words, success is largely based on what your parents have accomplished, not you. Sorry, sir, but you did nothing to influence your parents' success, which in turn contributed greatly to your success.
What's my point? Well, Mr. Dimon, you seem to think it's an attack to ask you to pay more taxes. I, on the other hand, see it as simple logic. After all, shouldn't you be required to pay more into a system that arbitrarily benefitted you more than others? Seems fair to me.
And, if I may Mr. Dimon, I'd like to talk specifically about you. The more I think about it, the more I am confused about your defense. After all, it makes great sense to me why people would be angry with you and your colleagues. Let me explain why.
I am not sure if you are aware of this, but one of your bankers, James Theckston, told us about some of the disgusting practices your company has engaged in. It turns out your account executives were encouraged to target people with low education and bad English skills, and nudge them towards risky subprime loans. Oh, and you were also giving out loans without asking for peoples' incomes, job experience, or assets. In other words, you were completely defying all ethical standards, and completely abusing the system -- all for your own benefit.
And by the way, sir, do not let me forget your recent $150 million settlement with the S.E.C. (In other words, your bribe to shut them up.) It turns out your company completely misled investors about mortgage securities transactions in the time leading up to the financial crisis.
Now, sir, I am just a high school student. But I know your extremely abhorrent activities led to a huge, global economic crisis. I also know that your victims lost homes and are now suffering, while you saw your income soar and your colleagues enjoyed hefty bailouts.
So, Mr. Dimon, if you really "just don't get" why people are fed up with you and your friends, well, let's just say I have a very nice doctor who would love to check your head out.
Yours truly,
Those other guys