ONTD Political

Now That Banks/Corporations are "Good" People, If You Hate Banks, You Are a Racist!

1:22 am - 01/26/2012
Banks and Corporations to Hire Butlers and The Help to March Down The Street Chanting, "We Shall Overcome".

JPMorgan Chase's Jamie Dimon: Anti-Banking Sentiment 'A Form Of Discrimination'

Jamie Dimon, the head of JPMorgan Chase, would like to make it clear that he is not that kind of banker.

"I've disagreed right from the beginning of this blanket blame of all banks," Dimon said in an interview with Charlie Gasparino of the Fox Business Network Tuesday. "I don't like that. I think that's just a form of discrimination that should be stopped."

Dimon, who has been CEO of JPMorgan Chase since 2005, didn't get specific about whom he'd rather not be lumped in with. He seemed, though, to be trying to draw a distinction between his own company -- which accepted a bailout from the Troubled Asset Relief Program, but is generally seen as having weathered the financial crisis better than many other major firms -- and banks that needed a greater degree of government assistance during and after the meltdown.

But Dimon's critics may not be persuaded by his argument. After all, JPMorgan Chase received $25 billion through the U.S. Treasury under TARP and at least $3 billion from the Federal Reserve in 2008 -- the same year that Dimon took home about $19.7 million in salary, stock and options. Dimon's compensation later climbed to $23 million in 2010 and 2011, as JPMorgan overtook Bank of America to become the nation's largest bank by assets.

Pay packages on that scale are unlikely to endear Dimon to his detractors, of which he has many. The Occupy Wall Street movement has demonstrated at Dimon's speaking events and organized marches outside JPMorgan Chase buildings. Politicians -- including President Obama -- have said that the lopsided concentration of wealth in America is contributing to the country's economic woes.

Even so, when Gasparino brought up the Occupy movement, Dimon struck a diplomatic tone, discussing the protests in language that was almost identical to comments he made in November.

"There are parts I agree with and there are parts I don't," Dimon told Gasparino. "It is fair for the average American to say that the major institutions of America let me down. That's true. And it is fair, generically, to say that it was predominantly Wall Street and Washington... I think once you go beyond that, and say all politicians, all banks, all bankers -- that's terrible. I don't accept that."

The interview was taped shortly before Dimon left for the World Economic Forum summit in Davos, Switzerland, where Dimon said he will be speaking with other attendees about financial regulation. At last year's Davos summit, Dimon made similar remarks pushing back against the vilification of the banking industry, calling it "a really unproductive and unfair way of treating people."

(no subject) - Anonymous
tabaqui 26th-Jan-2012 01:14 pm (UTC)
Oh, jeez.
QQ moar.
hohaiyee 26th-Jan-2012 01:23 pm (UTC)
Well gosh diddle dang it! I guess I better unhang the bankers from my tree before I get labelled as a racist!

Edited at 2012-01-26 01:34 pm (UTC)
nothingmuch 26th-Jan-2012 02:24 pm (UTC)
"I've disagreed right from the beginning of this blanket blame of all banks," Dimon said

Oh? Well good news! No one has blamed ALL banks, just the "too big to fail" ones!

"I don't like that. I think that's just a form of discrimination that should be stopped."

Then he flew off to Switzerland to chum around with other rich people and world leaders. IT'S SO HARD BEING A BANKER FACING SO MUCH DISCRIMINATION!

Edited at 2012-01-26 02:25 pm (UTC)
the_gabih 26th-Jan-2012 04:54 pm (UTC)

nothingmuch 26th-Jan-2012 05:45 pm (UTC)
mollywobbles867 26th-Jan-2012 02:41 pm (UTC)
celtic_thistle 26th-Jan-2012 08:41 pm (UTC)
sophiaserpentia 26th-Jan-2012 03:12 pm (UTC)
To paraphrase Elayne Boosler: No Jamie, just you.
mariechan 26th-Jan-2012 03:14 pm (UTC)
"Banks and Corporations to Hire Butlers and The Help to March Down The Street Chanting, "We Shall Overcome"."

I honestly thought that headline you made was real for a moment.
lizrocks 26th-Jan-2012 09:32 pm (UTC)
I did too... and I wasn't even surprised.
roseofjuly 26th-Jan-2012 03:20 pm (UTC)
So basically the American taxpayers paid Dimon's salary in 2008? Great job.
brennessel 26th-Jan-2012 05:12 pm (UTC)
Not only that, but he's been complaining that his tax rate is too high when he doesn't even know how much he's paying. The 39.6% income tax he's whining about was the top marginal rate under Clinton.
intrikate88 26th-Jan-2012 03:35 pm (UTC)
Hey man, if you care so goddamn much, create a public image of yourself as NOT being a douchebag who got a 19-mil bonus from taxpayer funds. There are plenty of corporate consultancies focused on corporate responsibility out there that would be glad to take your money and help you out on that front.
jettakd 26th-Jan-2012 04:49 pm (UTC)
Poor little precious baby.

Oh what, no, fuck him.
the_gabih 26th-Jan-2012 04:53 pm (UTC)
celtic_thistle 26th-Jan-2012 08:41 pm (UTC)
masakochan 26th-Jan-2012 09:43 pm (UTC)
MTE, Eleven.
cpsings4him 26th-Jan-2012 05:45 pm (UTC)

alryssa 26th-Jan-2012 06:46 pm (UTC)
Allow me to try and dredge some care from GiveAFuck Bay.
noneko 27th-Jan-2012 05:38 pm (UTC)
Considering Chase plotted with the government to take over WaMu... yeah, Jamie, you are that kind of bank.
This page was loaded Mar 24th 2018, 9:11 pm GMT.