In response to an FT article by Tom Braithwaite on 14th January 2015, entitled 'JPMorgan hit by $1bn in new legal charges'
“In the old days you dealt with one regulator when you had an issue, maybe two, and now it’s five or six. You all should ask the question about how American that is.” - Jamie Dimon
That's a good question Mr Dimon, here's my answer:
- About as 'American' as when you and your chums were bailed out in 2008, when the free market would have sent you to join the rest of the burnt toast at the bottom of the grill pan
- About as 'American' as when you were on the phone to your lackeys in Congress a few weeks ago, helping them see the 'sense' of putting the FDIC (tax payer) back on the hook for the next derivatives crash
- About as 'American' as wanting fines for banks and jail sentences for everyone else
- About as 'American' as any 9 year old playground kid who takes another kid's candy then goes crying to the teacher when he gets a slap in the face
I don't know what sort of 'America' you're looking for Mr Dimon, but judging by your actions, it's not one that the framers would recognise as 'American'.