Mr. Dimon regards himself as just trying to make a reasonable case regarding what is sensible public policy regarding banking. We would welcome a debate with him in any forum, preferably in public and with TV cameras present.
The financial crisis hit in the summer of 2007. By the fall of 2008, Wall Street had nearly destroyed itself. Obama put forth a reform proposal in June of 2009. It is now the spring of 2010. The time for action is long overdue.
Here's the danger: the centralization of risk and power is leading us right into another disaster. We need to get the banking oligopoly under control. But Jamie Dimon is fighting back tooth and nail. And that's why we must fight Jamie Dimon.
The students at Syracuse University are absolutely right: Dimon's a poor role model. We should be proud that they don't want life guidance from someone who has made a career of plundering the economy in the pursuit of non-productive wealth.
JPMorgan Chase's success is based, in part, on being the largest underwriter of coal companies that engage in mountaintop removal coal mining, which has turned countless Appalachian communities into ghost towns.
There are two kinds of bankers to fear. The first is incompetent and runs a big bank. The second type of banker is much more dangerous. This person runs a big bank and -- here's the danger -- makes it even bigger.
The supposed student uprising at Syracuse University landed with a predictable and pathetic thud on Sunday, as only a handful of the 4,000 graduating students took off their caps and gowns in the planned symbolic protest of JPMorgan Chase CEO Jamie Dimon's commencement speech.