Wednesday, July 15, 2009


According to the WSJ, Jamie Dimon, CEO of JPMorgan, is chomping at the bit to take the leadership position for the US banking industry. Last fall, Jamie agreed (like Paulson gave him a choice) for JPM to accept TARP funds for the good of the country. There was never any real evidence that JPM needed any support. Jamie did the right thing. He was none too happy though, when the new Administration showed up and put strings on the TARP funds that JPM already received. He was also none too pleased that JPM was being painted with the same brush as other banking institutions that really needed the TARP funds. Then, he had to fight to pay the funds back.

Well, now that JPM has paid back the TARP funds, get ready for Jamie to be a vocal leader on what is right for the banking industry! There is no other large bank that is in the position for its leader to take a leadership position. They all have to worry about a government/regulator backlash.

Real leaders do the right thing. They also have to sometimes tell the world what the right thing is! Sign up on google reader and other feeds to follow what Jamie has to say on banking and the economy. I guarantee that it will be thought provoking and educational to say the least.

There is a book on Jamie Dimon. I haven't read it but if you want to know more, pick it up.

Cheers, Mike

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