Jamie Dimon - Will the Bitching Never End?

Stop picking on the bankers who lied and cheated and stole! Stop calling them names! After all, don't you need us to get back on your feet again? Better watch it, then. Basically, that sums up Jamie Dimon's argument to the press complaining of the "vilification" of Wall Street and the nation's bankers.

I have another idea. Pay back your corporate bonuses. Cap your executive salaries. And take one moment of responsibility for the problems you pushed on the heads of the rest of us. The weirdly risky bonds and securities crashed down the entire economy, possibly for the world.

You motivated Congress, Bush, and the Fed to give you billions and billions of dollars out of desperation. There wasn't even a plan. And as soon as it looked like the corporate jets might get taken away, suddenly the idea of getting a bailout didn't seem so hot. It was like "Oh, wow! If I knew that I'd have to be accountable, I'd have let the business go under."

So here we are with bankers and brokers bitching and bitching about being held to account. And if they want to give the money back, what was all this about needing it to begin with? Maybe Jamie Dimon can answer that one.

No comments: