Jamie Dimon: The Most Dangerous Man In America

[Jefferson23]

By Simon Johnson

April 4, 2010


Jamie Dimon is by far the most dangerous American banker of this or any other recent generation. He, and his successors, will lead us into great harm.

There are two kinds of bankers to fear. The first is incompetent and runs a big bank. This includes such people as Chuck Prince (formerly of Citigroup) and Ken Lewis (Bank of America). These people run their banks onto the rocks -- and end up costing the taxpayer a great deal of money. But, on the other hand, you can see them coming and, if we ever get the politics of bank regulation straightened out again, work hard to contain the problems they present.

The second type of banker is much more dangerous. This person understands how to control risk within a massive organization, manage political relationships across the political spectrum, and generate the right kind of public relations. When all is said and done, this banker runs a big bank and -- here's the danger -- makes it even bigger.

Jamie Dimon is by far the most dangerous American banker of this or any other recent generation.

Not only did Mr. Dimon keep JP Morgan Chase from taking on as much risk as its competitors, he also navigated through the shoals of 2008-09 with acuity, ending up with the ultimate accolade of "savvy businessman" from the president himself. His letter to shareholders, which appeared this week, is a tour de force - if Machiavelli were a banker alive today, he could not have done better. (You can access the full letter through the link at the end of the fourth paragraph in this WSJ blog post; for another assessment, see Zach Carter's piece.)


remainder in full: http://www.alternet.org/story/146304/jamie_dimon%3A_the_most_dangerous_man_in_america

[leftstreet]

1. Poor guy had to lower the price on one of his homes-for-sale

Jamie Dimon's Chicago Home On The Market For A Reduced Price

May 27th 2009 at 6:01PM

How does JP Morgan CEO Jamie Dimon live? His $10.5 million home on Chicago's Gold Coast offers a hint. The eight-bedroom home was built in 1870 and measures approximately 15,000 square feet over four stories. It includes a 900-square-foot rooftop terrace.

....

He is asking $10.5 million for the home which puts it at the peak of homes currently listed for sale in Chicago. The home was listed for $13.5 million about two years ago. Back then Berg Properties reported that the home was purchased by Dimon and his wife in 2000 for $4.68 million so he could still make some money on the deal.

http://www.luxist.com/2009/05/27/jamie-dimons-chicago-home-on-the-market/

:cry:

[Jefferson23]

2. Poor guy, lol. But kidding aside, this guy is a nightmare for our country.