Jamie Dimon: Financial Collapse Was Not Our Fault

Jamie Dimon recently told a group of summer interns that the 2008 collapse, ‘was not our fault‘, that ‘our clients are happy with us‘, and that ‘The While has been harpooned. Dessicated. Creamted.’

While Mr. Dimon might like to believe his fairy tales, the truth of the matter is the entire 2008 crisis is the result of derivatives, which were invented by his very own Blythe Masters.
So YES, Mr. Dimon, in fact the 2008 collapse WAS YOUR FAULT! As is the slow-motion contagion spreading across Western economies currently.

The JPMorgan Chase CEO is really, really, really sorry. Except when he’s not.
“Whoa, whoa, whoa,” the JPMorgan Chase CEO interrupts, leaning into the microphone and peering out at the several hundred summer interns, sweating in their first business clothes, that have gathered in the auditorium of the former Bear Stearns building for a friendly Q&A session with the boss. “Before you go to the next level of generalizing, saying, ‘all bankers,’ ‘all banks.’ I don’t like that.” The room murmurs its assent as Dimon, pacing onstage in his summer uniform of a suit and no tie, warms to his topic. “I don’t buy this thing that our industry is responsible for all the ills of the world. We have great people at JPMorgan Chase. We operate with a lot of rigor. Our clients are happy with us. Sure, we make mistakes, like we have got this Whale thing. Businesses make mistakes. So we’ve got to clean them up, learn from them, and get better. And I want you to know the London Whale issue is dead,” he says. “The Whale has been harpooned. Dessicated. Cremated.” His voice carries over the students’ laughter. “I am going to bury its ashes all over.”

He’d certainly like to. But, “there’s a tail,” he concedes to me on a recent morning, sitting in his 48th-floor office, a homey space filled with knickknacks and family photos that requires passage through a gauntlet of machines and a security guard escort to reach. He means “tail” in the business-y sense, as in: The trading scandal that rocked the firm at the beginning of the year will have lasting repercussions.
Read more:

Comments

  1. Grooming himself for Treasury Secretary. The Grinch from Christmas pass Geithner is leaving office..The Criminal Enterprise of Goldman Sachs.

  2. Until one of these banks gets charged with a crime they can say whatever they want and most will continue to believe them.
    There is so much corruption and nothing happens.

  3. @Acruzn808 – Dimon doesn’t come from the right Mafia family…er….bank.   Methinks Lloyd is getting ready.  Wasn’t he supposed have have stepped down already?  Mid-August is past ‘early-summer’ on Doc’s calendar. 

    • They are all apart of the same Criminal Organization! There are just in different families. Sort of like the Godfather II when Michael went after the heads of the five families. The FBI should be doing this and yet where told to stand down. Don’t bet one dollar that their are agents within these Agencies that sworn to uphold the law of the United States. Some have seen their own chewed up and spit out, due to corruption and yet that of incompetence at the highest levels. 

      They are going to take this scam ponzi scheme to brink of Hell. We are heading there with that Gothic Devil worshiping display in London. You have the end of the Olympics re-watch it in full detail. Listen to the lyrics about “One World” As in One World Government! Did anyone notice that the British Athletes entered from the stadium seating as in (being secured) not walking in with the rest of the Olympians? 

  4. To Jamie Dimon and his ilk we are all chattel.  Politicians and governments are idiots.  U.S. would be better served if about 6500 banks closed leaving just 8-10 mega banks.  Bigger is better.
     

  5. It is sad that there are young people today (interns) who still think banking is a glamorous and honorable profession, and that bankers are ‘important’ people, and that is why they get paid the ‘big bucks’.  They need to remember what kind of legacy they will leave behind, because in the not-too-distant future, it will be written in the history books that modern banking, and the bankers who make up the system, was the greatest crime committed against humanity in the 20th century.
    Why else would Henry Ford have made the following remark?
    ” It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” –Henry Ford

  6. They’re ALL pointing fingers now that their precious little ‘money machine’ has gone ‘critical’. Since 1913, EVERY CONGRESS and EVERY BANK EXECUTIVE has sequentially maintained the creeping hell about to unleash itself on us all. There’s only one thing to do that will avoid the suffering and deprivation to shortly come and that’s to ‘harden’ all their banknotes at true physical purchase-power equivalents, adjusted for depreciation and simply re-adopt a genuine Free Market so valuations of everything can rationally equilibrate. Will they even TALK about it? NO! So, whether or not they may ultimately have CAUSED it by their specific roles, they’re STILL criminally guilty of gross negligence to act on a valid solution before masses of human beings are greviously damaged and harmed!

  7. Don’t you love sociopaths?  What would the world be like without them?  Other than a better place. 

  8. If I had a dollar for every one of these Banksters lies, I would be a millionare

  9. With the FED charter about to expire, and an overall 97% depreciation level of the 1913 dollar, the job (destruction of the USA) is almost complete.  Not much time left to stack and prepare.

    This goes against what nearly every sane human being alive wants, yet it is being forced on us regardless.

    This demon obviously has ice in his veins.  The perfect qualification to be dictator of the United States.

Speak Your Mind