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Started By
Message
Please Trump, don't hire Jamie Dimon
Posted on 11/11/16 at 12:14 pm
Posted on 11/11/16 at 12:14 pm
Trump Persuing Dimon
quote:Of course he gives the typical 'I'm not interested' response, but this part is troubling...
Dimon, a lifelong Democrat, has been floated as a possible candidate for roles like Treasury Secretary in the past. However, resentment toward bankers following the 2007-2009 financial crisis made his candidacy much less likely, as did JPMorgan-specific scandals related to a costly derivatives trade and bad mortgages.
A $13 billion mortgage settlement JPMorgan reached with the federal government in 2013 prompted Trump then to call Dimon "the worst banker in the United States."
quote:Don't need this guy anywhere near trump's administration.
“Serving in his Cabinet is not something I’ve indicated an interest in and it’s not something I am pursuing," the statement said. He said he looked forward to working in Congress to repeal the Dodd-Frank Act which tightened regulations on Wall Street in the wake of the financial crisis
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Posted on 11/11/16 at 12:15 pm to funnystuff
Jamie is a sharp dude
Posted on 11/11/16 at 12:15 pm to funnystuff
Dodd-Frank is one of the worst pieces of legislation
Posted on 11/11/16 at 12:16 pm to funnystuff
I agree with you wholeheartedly. Im 1000% MAGA, but unfortunately some of his picks wont be popular with everyone. Nature of the beast. But I agree, Jamie Dimon in a position of power concerns me MUCH MORE than Trump with his finger on the nuclear button.
Posted on 11/11/16 at 12:17 pm to funnystuff
So OP you are in favor of Dodd Frank? I'm assuming you don't work in a financial industry, because all of us despise it.
Posted on 11/11/16 at 12:21 pm to DavidTheGnome
I dont personally like Dodd-Frank. Rather, I preferred Glass Stegall much more. System worked fairly well for 60 years.
Thank you very much Citigroup and Mr. Hillary Clinton.
Thank you very much Citigroup and Mr. Hillary Clinton.
Posted on 11/11/16 at 12:23 pm to DavidTheGnome
quote:
I'm assuming you don't work in a financial industry, because all of us despise it.
And dont worry, we'll get back to bitching about your industry in do time.
This post was edited on 11/11/16 at 12:24 pm
Posted on 11/11/16 at 12:26 pm to funnystuff
He said he wanted the best people, and Jamie Dimon is the best.
Not sure why Jamie Dimon would step down from JPM and take a pay cut, though.
Not sure why Jamie Dimon would step down from JPM and take a pay cut, though.
Posted on 11/11/16 at 12:27 pm to DavidTheGnome
Economist. And what I don't like about Dodd Frank is that it doesn't do enough. It's far from a perfect law, but is a step in the right direction. It would be one thing if Dimon said he wanted to repeal and replace DF, I'd be all on board with that. But we absolutely need to do a better job of regulating an industry that probably has more say over our future than our government does.
This post was edited on 11/11/16 at 12:29 pm
Posted on 11/11/16 at 12:30 pm to funnystuff
quote:
Economist. And what I don't like about Dodd Frank is that it doesn't do enough. It's far from a perfect bill, but is a step in the right direction. It would be one thing if Dimon said he wanted to repeal and replace DF, I'd be all on board with that. But we absolutely need to do a better job of regulating an industry that probably has more say over our future than our government does
A lot of the regulations in Dodd Frank don't do that though, there's a lot of nonsensical bs in there meant to protect consumers but it doesn't. Lots of regulation just for the sake of regulation.
Posted on 11/11/16 at 12:38 pm to DavidTheGnome
Agreed. And also lots of regulation for the sake of productive oversight. That's why we need a repeal and replacement.
But the American people deserve some oversight of this system, it's too important to the country's future. And a repeal alone puts the American citizens in a terrible position. Let's fix what's broken without going scorched earth.
I believe trump has a better chance than anyone to find a medium to satisfy both the financial industry and citizenry - it's why I voted for him. And it's why I would be disappointed if he hired Jamie Dimon.
But the American people deserve some oversight of this system, it's too important to the country's future. And a repeal alone puts the American citizens in a terrible position. Let's fix what's broken without going scorched earth.
I believe trump has a better chance than anyone to find a medium to satisfy both the financial industry and citizenry - it's why I voted for him. And it's why I would be disappointed if he hired Jamie Dimon.
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