The Spectacular Rise and Fall of Jamie Dimon, Wall Street’s Golden Boy

[xchrom]

http://www.alternet.org/economy/spectacular-rise-and-fall-jamie-dimon-wall-streets-golden-boy



They called him a hero. The most esteemed banker of his time. The captain who could steer the ship while others foundered. The handsome, charismatic CEO of JP Morgan Chase, he of the silver hair and golden tongue, beloved by presidents and praised by pundits.

Now the truth is out, and Wall Street’s golden boy, Jamie Dimon, has fallen to earth with a thud.

Why did it take so long? Why did the American media treat him with kid gloves? In a populist moment, how did he manage to escape the scorn heaped on his colleagues?

To understand this, you have to follow the yellow brick rode all the way back to the beginning, back to when the gold-plated American Dream was forged in the smithy of the Puritan soul.

[The Straight Story]

1. I used to work for this jackhole at both bank one and chase

We knew back in the day he was an ass. Started out pretty decent and making some good changes, but then the outsourcing, keeping idiots in higher management, and so on.

Still making a mess of things there for my old engineers and others.

[xchrom]

2. sorry the guy was such a pain...but thanks for the observation from up close. nt

[riqster]

3. I had to deal with him at Bank One and Chase

Thank God I was a contractor. My impression was of a ruthless but shallow man, skilled in close-quarters meeting room "combat", but devoid of strategic thinking and ultimately concerned only with himself.

[xchrom]

4. interesting...2 observers ...similar thoughts. thanks. nt

[djean111]

7. I think "ruthless but shallow" describes most of Wall Street, Washington DC, corporations, etc.

There really isn't much defense possible against them - while we are thinking oh no, if they thought about this - no benefits, stealing pensions, sending jobs overseas, massive bailouts, shredding the safety net, gutting taxes for the rich and corporations, sad long list here - they wouldn't do it.
But they are not thinking of anything but their own immediate bank accounts, so while we are debating, they just go ahead and do stuff.
Remember, easier to apologise (not that they would) than to ask permission.

[djean111]

5. Um, Dimon did not fall to earth with a thud, he is cushioned with lots and lots of our money.

I doubt that scorn bothers him in the least, and I am betting that if anything ACTUALLY happens to him, his golden parachute will be breath-taking.
When support of any sort of deregulation is roundly bipartisan, I would say Dimon has done his job well, and will be richly rewarded.
"Heaping scorn" is just a dog and pony show.

[hatrack]

6. Quite - I'm sure he'll weep all the way to (our) bank

Asshole.

[unblock]

8. fall? his "fall" would be a ginormous raise for 99.99% of the country!

and the pundits will be back to hailing him as a genius as soon as he announces the next round of obscene profits.

[valerief]

9. Fall? You mean he's going to prison? For real?????

Cuz anything less is nothing at all.

[BeyondGeography]

11. Too big to jail

[valerief]

12. So once again--nothing. nt

[ProfessionalLeftist]

10. Wasn't just the media that handled him with kid gloves

Our own gov't kissed his ass in a recent hearing. It was absolutely disgusting.

[HughBeaumont]

13. Wouldn't "Fall" imply that he suffers in some way?

He wipes his ass with our weekly salaries. He blows his nose with our mortgage payments. He sleeps on a mattress stuffed with lottery winnings.