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6 Responses to “Jamie Dimon on Meet the Press”

  1. [...] had recorded a complimentary interview for Meet the Press before this announced loss. He went back on the show Sunday to address the most recent news, [...]

  2. What Jamie Dimon didn’t tell you on ‘Meet the Press’

    Without even waiting a decent interval for mourning, JPMorgan Chase Chairman Jamie Dimon launched his defense campaign over the disclosure that he presided over a $2-billion trading loss in derivatives within days of the disclosure itself, choosing the comforting confines of NBC’s “Meet the Press” for the campaign kick-off.

    Dimon’s theme was essentially as follows: “Hey, everybody makes mistakes — sure, we lost $2 billion, but we’ve still got billions more, and we’ll figure out this one ourselves without the need for any further regulations, thank you.”

    His argument is plainly designed to distract from the right way to think about JPM’s fiasco, which is that it’s exactly the sort of thing that regulations should forbid banks from doing, lest they destroy the financial system — again.

    Dimon certainly showed supreme skill in choosing his venue. In “Meet the Press” host David Gregory he had a questioner who is expert in the honored television tradition of taking interviewees at their own level of self-esteem. Also someone who is so clueless about how banks and investment markets work that he hasn’t got the slightest idea of what questions to ask, much less how to follow up on an answer.

    Here, for example, is how Dimon answered Gregory’s question, “How did this happen?”

    “First of all, there was one warning signal — if you look back from today, there were other red flags. That particular red flag — you know, we made a mistake, we got very defensive and people started justifying everything we did. You know, the benefit in life is to say, ‘Maybe you made a mistake, let’s dig deep.’ And the mistake had been brewing for a while, so it wasn’t just any one thing.” (The words are verbatim; punctuation is added.)

    If you didn’t know anything about what happened at JPMorgan Chase before, now you know less.

  3. V says:

    “The SEC is looking into this”

    Ha ha ha ha ha ha ha ha.
    SEC couldn’t look into a well.

  4. ilsm says:

    Dimon is missing his calling.

    At the pentagon they regularly lose most of the 5% of GDP they squander.

    What is $2b lost in a wall st gamble compared to betting $35B on a couple of new generation aircraft carriers with magnet catapults and F-35′s?

    Heck, the Red Chinese are refitting a 30 year old Ukraine ship to tilt with those trillion dollar boondogles.

  5. really, when the name gets changed to “Meet the Presstitutes”, it may, then, become worth the Time to Watch..

    ~~~
    Presstitute (press + prostitute)

    “Presstitute” (press + prostitute) describes a member of the press who lets other considerations get in the way of reporting the truth. Sometimes “soft” reporting occurs because of a powerful advertiser, and sometimes the reporter is overly friendly with the subject of the reporting. Newspaper columnist Walter Winchell (1897-1972) used the term “presstitute” as early as 1941.

    In the 2000s, during the U.S. presidency of Barack Obama, some critics accused the press of asking “softball” questions of the president. The word “presstitute” was probably re-invented and not remembered from Winchell’s usage many years earlier.

    Urban Dictionary
    presstitute
    A member of the media who will alter their story and reporting based on financial interests or other ties with usually partisan individuals or groups.
    Robert Novak’s latest column supporting this administration’s criminal policies show that he is nothing more than a presstitute.
    by Nicholas Sasson Feb 9, 2006

    Presstitute
    One who “screws” the general public by intentionally sumbitting false or mis-leading information to the Press. Esp. for politicians and news folks.
    Our congressperson really presstituted themselves with that interview.
    or
    That politician is a known presstitute.
    by Tripod SRQ Oct 13, 2008

    Wikipedia: Walter Winchell
    Walter Winchell (April 7, 1897 – February 20, 1972) was an American newspaper and radio commentator. He invented the gossip column while at the New York Evening Graphic.

    3 November 1941, Waterloo (IA) Daily Courier, “Walter Winchell on Broadway,” pg. 20, col. 1:
    Suggested nick-name for newspapermen who can be bought: Presstitutes. …”
    http://www.barrypopik.com/index.php/new_york_city/entry/presstitute_press_prostitute/
    ~~
    “…WALTER WINCHELL: Gossip, Power And The Culture of Celebrity by Neal Gabler (Macmillan, [pounds sterling]12): No one has heard of him now, but in his time and place – Thirties New York – Walter Winchell was the most famous journalist in the world, Nigel Dempster, Auberon Waugh and Jonathan Ross all rolled into one.

    Presidents courted his favour and his broadcasts and syndicated columns reached 50 million Americans out of a population of 75 million. But when he died in 1972, the only person to attend his funeral was his daughter.

    In this comprehensive biography, Gabler shows how Winchell combed Broadway, exposing for the first time the private lives of the stars, and moved on to fight the rise of fascism. James Cagney and Humphrey Bogart modelled their screen characters on him and he inspired a character in the original Guys And Dolls stories…”
    http://www.highbeam.com/doc/1G1-110855845.html?key=01-42160D517E1915691B0F0717026B4B36254D35463B78700E730E0B60641A617F1371193F
    ~~
    PIIGS, Presstitutes, and the Global Meltdown
    July 14, 2011
    http://lewrockwell.com/celente/celente74.1.html
    ~~
    http://search.yippy.com/search?query=Presstitute&tb=sitesearch-all&v%3Aproject=clusty

  6. Simon says:

    I think the interviewer was reasonably hard hitting. Much further and would have been rude. He was very general but this kind of interview would be hard to do focusing on technical detail. Jamie was also genuine and outspoken. However he said “I think attacking that which creates all things is the wrong way to go about it” and this is something I do not understand. It seems to mean that he thinks that the banks create of at least facilitate all things. How right is he about that? Is it right if he is right? He does say that he believes that too big to fail should be to big to exist or at least seems to imply that. Or is that just a deflection strategy? I certainly am no match. With people like him at the top, if he is not genuine and is merely being highly strategic and understands that this is the correct long term approach to maintain his position and the preeminence of the big banks then they have a powerful spokesman.