Speaking at the South Florida Economic Summit on Monday, JPM CEO Jamie Dimon casually mentioned the bank has a secret money room in which The Morgue move $2-$5 trillion a day.
Perhaps the ESF run by Goldman now has a partner in crime?
In his speech, Dimon also stated that banks shouldn’t be allowed to be TBTF, and that there should be Old Testament style justice for big dumb banks.
We couldn’t have said it better ourselves.
Dimon casually disclosed the existence of a secret money room slush-fund located at an undisclosed location in Florida during the speech:
“We have a great room, I forget the name of it, it’s a money room, at an undisclosed location. It’s in Florida, but it moves, every day, $2-5 trillion around the world. JP Morgan moves a lot of money for corporations and individuals and that room which I took my Board of Directors to, is just very impressive.”
Dimon also stated that banks shouldn’t be allowed to be TBTF, and that there should be Old Testament style justice for big dumb banks:
“I agree with people who say banks shouldn’t be too big to fail,” he said. “It should be bankruptcy and the damn bank board should be fired..tax payers should never have to pay and you should believe it. I want to call it bankruptcy for big dumb banks… There should be some form of Old Testament justice including clawbacks of comp.”
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While we wholeheartedly agree with Mr. Dimon that there should be some form of Old Testament justice for banksters, we wonder whether Mr. Dimon understands that Old Testament justice consisted of raining fire and brimstone from heaven on those who failed to keep the Creator’s commandments?