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Couldn't agree more. Dimon is no fool which means the blatant untruths he spews in this puff piece are willful. He doesn't mention the $55bn of taxpayers' money
by camperman 11y ago
Couldn't agree more. Dimon is no fool which means the blatant untruths he spews in this puff piece are willful. He doesn't mention the $55bn of taxpayers' money that was given to JP Morgan to buy the crap Bear Stearns was hiding in its balance sheet, nor his role in the naked shorting that helped Bear go down originally. He doesn't mention that his institution is still insolvent because of all of the CDS instruments carried off balance sheet. Oh, and the Whale incident carries stiff penalties. Well it would if Sarbanes-Oxley was actually enforced or the SEC did anything but look at porn all day.
Bloomberg should be ashamed of this piece.