Reader comment on: Jamie Dimon, Obama, and the London Whale
Submitted by Jerry Skurnik (United States), May 11, 2012 17:09
Only in Bizarro world, is Dimon an Obama pal. From May 3 Forbes, Dimon sounds like Stoll - http://www.forbes.com/sites/afontevecchia/2012/05/03/jamie-dimon-obamas-persecution-of-oil-speculators-is-ridiculous/
The outspoken executive, who has criticized Dodd-Frank on several occasions, directly attacked one of the most debated points of the proposed bill, the Volcker rule. Calling for the separation of commercial banking and proprietary trading (given the risks involved), the Volcker rule has been the target of Dimon's wrath. On Thursday, Dimon explained "I've tried to tell Volcker the riskiest thing to do is making loans, which are 100% proprietary," noting the arbitrariness of targeting one or another type of business....
At one point, Dimon did what many in the crowd equated to criticizing President Obama, saying "when things go wrong, finance gets blamed, just like this ridiculous stuff of blaming speculators for oil prices."
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