JP Morgan Chase CEO Jamie Dimon Has Lunch with President Obama; Next Treasury Secretary?
Posted on | January 26, 2010 | 3 Comments
Today we have learned that JP Morgan Chase CEO Jamie Dimon is having lunch with President Obama. There has been much speculation as to who will be the next Treasury Secretary and the name Jamie Dimon continues to pop up. President Obama has strong connections with Jamie Dimon since Dimon was the CEO of Bank One in Chicago, Illinois. We all know the connections that the president has to the “Windy City.”
Jamie Dimon was also one of the only CEO’s who avoided the huge risk involved in the Subprime Mortgage Crisis. While most other financial institutions were failing JP Morgan Chase was gobbling them up for pennies on the dollar. Many analysts and “higher ups” on Wall Street feel that Jamie Dimon is the best banker on Wall Street and would do a great job as Treasury Secretary. Mr. Dimon and President Obama have had many talks lately; could this be a sign of things to come?
Most people realize that Timothy Geithner is on thin ice due to the AIG issues at hand. At any time we could hear that Jamie Dimon is named the successor of Mr. Geithner. Nothing is set in stone at the moment but with Mr. Dimon proving to be an amazing banker one can assume that he is the perfect fit to be the next Treasury Secretary.
Author: Jesse Wojdylo
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3 Responses to “JP Morgan Chase CEO Jamie Dimon Has Lunch with President Obama; Next Treasury Secretary?”
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January 27th, 2010 @ 8:05 am
So once again a Wall Street narcissist is moving into the Treasury spot? Certainly a sad state of affairs for Main Street. No doubt Dimon is a savvy businessman, but he has built his success partly on the backs of tens of thousands of homeowners who are being royally screwed as they try to get a loan modification through JPMorgan Chase. Clearly the president I thought was going to change things for the better for us has no intention of doing so.
January 27th, 2010 @ 9:30 am
On a single weekend in March of 2008, Jamie Dimon and JP Morgan Chase, made decisions that helped the US at least postpone the collapse of the financial markets by agreeing to acquire a suffering Bear Sterns. A good price? for sure but Mr. Dimon had positioned JP Morgan Chase in order to do that. Had that not been done at that time, panic and the “domino effect” would have made the crisis far more severe and widespread than it has turned out to be. I would liked to have had extra money in March of 2009 to purchase JP Morgan stock when it was at $19 and change. Jamie is by far the most astute and capable banker on Wall Street, or any street for that matter. Congress on the other hand?????? Does Mr. Dimon really want the Treasury job or was he just giving some direction so the President gets advice from someone who actually knows what he is talking about. Refresh yourself America: capitalism, market driven economy, supply and demand, creating value in goods and services, all part of the history of what has made America great.
January 29th, 2010 @ 5:43 am
Jamie Dimon is a rare commodity.
A Democrat banker that came through the credit crisis spotlessly.
He’s already rich enough that he could take a government salary.
It’s also fairly certain that he’d like the job.
The only question is whether he wants the job now, or thinks he has to see through the job at JPM for a few more years.
He has several other things going for him. He probably knows Citigroup as well as anyone, and from his time with Travelers, he knows insurance (AIG).
Can anyone think of a better candidate for Treasury Secretary?