I want to give a hat tip to a recent
Wall Street Journal article
that brought to my attention two damning admissions by JPMorgan’s (JPM)
CEO and Chairman of the Board, Jamie Dimon. The irony is that Dimon
was lulled into making these admissions because he was basking in the
perfect calm created by the confluence of Sorkin’s and CNBC’s storied
sycophancy at the one place on earth where elite bankers feel most
loved, honored, and protected – the annual meeting of the ultra-wealthy
in Davos, Switzerland. Sorkin was the only interviewer, so Dimon faced
no risk of tough questions. It may well have been this perfect setting
that caused Dimon to let slip the mask and reveal two illustrative sins
of elite bankers reported in the
WSJ article.
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