Jamie Dimon on Bank Fees: Stop Vilifying Us!

[Soylent Brice]

As Wall Street begins to hand out billions in bonuses and the White House considers placing huge fees on the nation's biggest banks, one executive says he's weary of the blame game.

"I am a little tired of the constant vilification of these people," JPMorgan Chase CEO Jamie Dimon said Monday at a health care conference. "This is not a casino."

Dimon may not be the only one with this reaction. Andrew Ross Sorkin, New York Times columnist and the author of "Too Big to Fail," said that Wall Street executives were "completely blindsided" by the news of $120 billion in potential fees in the Obama administration's February budget and will likely fight it.

"There was a lack of appreciation that the White House could even contemplate doing something like this," Sorkin told "Good Morning America" anchor George Stephanopoulos today. "And now I think there are real questions about what does this fee mean? How does it get assessed?"

more robber baron whining at: http://abcnews.go.com/GMA/wall-street-bankers-face-potential-white-house-fees/story?id=9539269

[gratuitous]

1. Tell you what, you poor dears

You explain to us how you arrive at your "fees" for overdrafts, using another bank's ATM, and loan origination, and we'll tell you what the administration's fees mean and how they get assessed. Deal?

Otherwise, shut up and pay for a change. Or jump, you fuckers. Makes no difference to me.

[anonymous171]

2. "This is not a casino" Really? nt

[Soylent Brice]

4. that made me do a double take as well. n/t

[chaplainM]

25. He's right: in a casino, you risk your OWN money.

[laughingliberal]

26. Yeah, no shit! These guys ought to be regulated under the gaming commission.

We could get Harry to head it up. He was actually a bad ass in the days he did that job.

[BeyondGeography]

3. Pretty dumb to use the casino word

Then again, outside of their little scammy milieu, they don't know how things play at all.

[KansDem]

5. "This is not a casino"

You're right, Big J. The Mob ran the casinos much better than you have your banks!

:nopity:

Hey, Big J! When you gonna start loaning again?

[RobinA]

6. Blindsided, Eh..

I was blindsided when I got a letter stating that my credit card was over due and they were cutting it off. (It was entirely paid off, which they did not dispute when I called them.) My friend was blindsided when her credit card was cut off while she was on vacation and attempting to pay for a hotel room. (Totally paid up, most recent payment two days late due to holiday.) Recently I was blindsided when fees were suddenly added to my school loans. So maybe the $120 billion equals the amount of blind-siding done over the past...oh, 5 years by banks.

[xultar]

7. Fuck those sons-o-bitches. What about the effing fees they shove @ us?

[Soylent Brice]

8. answer:

1 cup audacity
2 cups of hypocrisy
stir vigorously until foam rises

[truebrit71]

9. Fuck Jamie Dimon.

Scumbag piece of shit...I wouldn't cross the road to piss on him if he was on fire...

[Sherman A1]

22. Bravo!

One of my favorite phrases


:yourock:

[notadmblnd]

10. I was recently charged 32 dollars for a 3 dollar overdraft

my son went to Itunes and bought two songs without letting me know and I was 3 dollars short. I had the money in my other account that is tied to my checking, but did they take it from there? Nooooo, why should they when they can take more?

[Fire1]

16. You think THAT'S bad! My husband ended up owing and

ultimately paying $600.00 for a $2.00 overdraft!! You KNOW they can kiss my ass!!

[notadmblnd]

17. did they just keep charging and charging?

[Fire1]

18. DAILY fees. n/t

[notadmblnd]

20. yeah, it happened to me once too. not having the money to cover the overdraft for a couple of days

I think mine got up to about 75$ by the time I had money to cover it.

[Fire1]

21. He hadn't used the account in weeks and didn't realize there

was an overdraft until the notice came. He ignored it because it was just two bucks! HA! Little did he know what the fees were! He should have asked me as soon as he got the statement, but he didn't.:-(

[avaistheone1]

11. Don't trust these corporate rapists of the American people no matter what they say.

These banksters are sociopaths and they are liars.

[glitch]

12. You can villify villians? nt

[Soylent Brice]

13. welcome to the Department of Rendundancy Department. n/t

[marmar]

14. "This is not a casino."

How can he say that shit with a straight face? :rofl:

[Fire1]

15. My answer to Dimon is simply, "TOUGH SHIT!" We were

blind sided with the housing bubble, over priced real estate and "creative" financing ALL of which resulted in upside down mortgages! So, I repeat, TOUGH SHIT!! Deal with it!

[Raineyb]

19. He's right they're not a casino.

A casino would have to eat any losses it took.

[leftstreet]

24. True - taxpayers don't bail out casinos n/t

[closeupready]

23. "Pride goeth before the fall, sayeth the Lord."

n/t

[laughingliberal]

27. Hee hee! Robber baron whining.

I love this whine from the article at OP link:

"There's $120 billion that the Treasury is probably going to lose on TARP, effectively," he said. But from the Wall Street perspective, "most of that loss is coming from the automakers and AIG. Why are we going to pay it?"

How 'bout this? We didn't gamble away all the money at your institutions. How come we had to pay for it? Wonder if they'e looking at those gates on their communities and starting to wonder how strong they are?