Free Republic

On NBC's Meet The Press,' just now (May 13, 2012: Jamie Dimon said it's not fair to blame 'all banks,' you know of a particular bank that does something wrong go after that specifically. I accept all criticism. I am now "barely a democrat." Asked: 'What do you mean "barely a Democrat," Are you not a Democrat anymore? I mean I am still a Democrat... but BARELY... The current admin. - (environment) very 'anti-Business.' I don't blame the president but the Democrats were much more destructive than the Republicans.

FULL Title - Former SEIU Official Reveals Secret Plan To Destroy JP Morgan, Crash The Stock Market, And Redistribute Wealth In America A former official of one of the country's most-powerful unions, SEIU, is detailing a secret plan to "destabilize" the country. Specifically, the plan seeks to destroy JP Morgan, nuke the stock market, and weaken Wall Street's grip on power, thus creating the conditions necessary for a redistribution of wealth and a change in government. The former SEIU official, Stephen Lerner, spoke in a closed session at a Pace University forum last weekend.

Federal limits on debit card processing fees will force banks to charge customers more for services, making accounts too expensive for as many as 5 percent of customers, JPMorgan Chase & Co's chief executive said on Friday. The rules, proposed as part of the Dodd-Frank financial reform law, would cap the fees that merchants pay banks for processing debit card transactions at 12 cents each. That is almost 75 percent less than the average 44 cents per transaction that banks get now. U.S. banks could lose about $13 billion of their annual industry debit processing revenues because of the rules,...

Wall Street's most vocal critics of the new financial regulations aren't invited to the party. Neither Goldman Sachs CEO Lloyd Blankfein nor JPMorgan Chase chief Jamie Dimon were asked to attend President Obama's signing ceremony set for today in Washington. FinReg, as the financial sector overhaul is known, is likely to alter the state and style of business of Wall Street and, potentially, sap billions of dollars of revenues from some of the most powerful financial institutions in the country. The high-profile ceremony is expected to be attended by a few hundred guests including Harvard professor Elizabeth Warren, viewed by...

He may be a hero on Wall Street but the JP Morgan boss Jamie Dimon is seriously uncool in the eyes of students. There's revolt in the air at Syracuse University in upstate New York where Dimon is due to give a graduation address next month. Disgruntled students complain that the university's invitation to Dimon amounts to an attempt to use their commencement ceremony (graduation to us Brits) as a tool to rebuild the public image of the disgraced banking industry. And they point out that while JP Morgan coins in record profits, the credit crunch has left many students...

"Ballet among the Carcasses" There are many who see the large banks (Goldman Sachs, JP Morgan Chase) and quasi-government agencies (FDIC, OTS, Federal Reserve Bank of New York) as an operating cartel within our country.  There has always been a wary eye towards the relationship between these institutions and their secrecy but the events of 2008 shed light on not only the nepotistic course that creates a network of insiders (creating obvious conflicts of interest), the light revealed favoritism and what some would say was outright collusion between the organizations to ensure that selected bankers remained in business. That introductory...

In his bestseller "Inside U.S.A.," the hugely readable journalist John Gunther described America as it was in the last year of World War II. He interviewed hundreds of politicians, businessmen and journalists, but only four men rated a separate chapter -- three politicians and Henry J. Kaiser, the California construction magnate who built dams and ships and manufactured concrete and steel and aluminum. Kaiser was, Gunther wrote, "tough, creative, packed with ideas and energy, above all a man who likes to make things." But he was also, he noted, a "link of enterprise by government, since government was on his...

The WaMu bankruptcy just got a little more interesting. Washington Mutual, the bankruptcy holding company, is asking a court to compel the FDIC, JPMorgan, Goldman Sachs, and several ratings agencies to turn over emails and other documents relating to JPMorgan's acquisition of the bank. Reuters (via The New York Times) has a report here. Zach Lowe of The Am Law Daily has a report, including a breakdown of the legal teams, here. Reuters: The company wants to investigate discussions between JPMorgan Chase, regulators, competitors and rating agencies it said led to the seizure of Washington Mutual, or WMI, according to...

JPMorgan (JPM) says the mortgage-related bloodletting is not over: Marketwatch: J.P. Morgan Chase said Tuesday that it sees more mortgage-related losses in coming quarters. Losses on home equity loans could reach $1.4 billion over the next several quarters, the bank said in a presentation posted on its Web site. Prime mortgage losses may reach $600 million and subprime mortgage losses could hit $500 million in coming quarters, J.P. Morgan added in the presentation. The bank also said it's seeing "initial" signs of stability in consumer delinquency trends, but it warned that it's not certain if the trend will continue. J.P....

I have said before, I think it will be pretty difficult to replace Geithner, but now we have President Obama's "favorite banker" being named as a possible replacement. NyPo reports As support for Treasury Secretary Timothy Geithner wanes on Capitol Hill amid frustration with the Obama administration's handling of the economy, JPMorgan Chase CEO Jamie Dimon is emerging as a potential replacement. Sources tell The Post that a number of policy makers have begun mentioning Dimon as a successor to Geithner, whose standing in Washington has suffered because of the country's high unemployment rate, the weakness of the dollar, the...

In the depths of the financial crisis last year, people like Morgan Stanley's John Mack, BlackRock's Larry Fink, Greg Fleming (then of Merrill Lynch), JP Morgan's Jamie Dimon and Goldman Sachs' Lloyd Blankfein were telling everyone that candidate Barack Obama was a "moderate," and moderation was what this country needed. What a difference a year makes. They won't admit it in public -- but in private conversations, the top guys on Wall Street are feeling burned. The guy who seemed like such a steady voice -- vowing to curb runaway spending and restoring order to the banking system and the...

JP Morgan Chase has been challenged to sever its financial support for ACORN. As more video tapes are released of ACORN workers discussing illicit financial schemes, the bank has been called out for funding activities in violation of its own polices. Peter Flaherty, president of the National Legal and Policy Center (NLPC), in a letter addressed to JP Morgan Chase CEO Jamie Dimon, warns that continued support could jeopardize the institution’s credibility. “Continued identification with ACORN harms the company’s brand name and reputation, and carries special risks for this company, a recipient of taxpayer TARP funds,” he wrote. “The New...

Days after Lehman Brothers' stunning collapse last Sept. 15, then-Treasury Secretary Hank Paulson placed an urgent call to JPMorgan Chase CEO Jamie Dimon and asked the banking veteran to buy rival Morgan Stanley to save it from suffering a similar fate, according to an upcoming book. Dimon, who had come to be seen as the banker of last resort after acquiring Bear Stearns in a government-sponsored takeover the previous March, had misgivings on such a move, though, and passed on the opportunity. The reason, according to the book, was that it would be too difficult to integrate the two similarly...

Grand Theft Auto: How Stevie the Rat bankrupted GM by Greg Palast Monday, June 1, 2009 ant-farm_2Screw the autoworkers. They may be crying about General Motors' bankruptcy today. But dumping 40,000 of the last 60,000 union jobs into a mass grave won't spoil Jamie Dimon's day. Dimon is the CEO of JP Morgan Chase bank. While GM workers are losing their retirement health benefits, their jobs, their life savings; while shareholders are getting zilch and many creditors getting hosed, a few privileged GM lenders – led by Morgan and Citibank – expect to get back 100% of their loans to...

Barring an October surprise, the fall election has all but been decided. The next question on Wall Street is whom President Obama will install as Henry Paulson's successor as head of the Treasury Department. Though no decision has been made, the rumor is that the Obama camp has already reached out to its first choice. The eye-popper is that the potential pick -- Jamie Dimon -- has signaled an interest in the job. [snip] Dimon and the Democrats It wouldn't be a stretch to suggest Obama would simply be repaying a big campaign supporter. In the political world, Dimon hasn't...

The head of one of America's bigger banks blamed sluggish decision-making in Washington for prolonging the banking crisis Jamie Dimon, the chief executive of JPMorgan Chase, bitterly criticised Washington lawmakers yesterday, deriding their sluggish decision-making and describing the political system as suffering from “institutional sclerosis [...] unable to make a decision to make this country healthy”. His attack came hours after his bank had been forced to sell a stake in itself to the US Government, following the announcement of President Bush's plans to partially nationalise America's biggest financial institutions. It also comes after Wall Street watched with disbelief as...

Education: Governor hints that coming budget might not attain campus spending levels required under Proposition 98. By DAN MORAIN and JULIE TAMAKI, TIMES STAFF WRITERS SACRAMENTO -- Gov. Gray Davis warned for the first time Monday that he may not be able to meet the "guaranteed" funding level for schools required by the voter-approved Proposition 98. Trying to dampen expectations as he confronts a major budget deficit in an election year, Davis suggested to a union of nonteaching school employees that education spending could grow at a slower rate next year than he previously proposed. "I'm going to do my...