Quote of the Day

Tuesday, May 15, 2012

$2 Billion Sucking Sound

Dateline: Today in Tampa

Members of the Great Unwashed have gathered today in our fair city. Their purpose is to hear the words of wisdom that are expected to emanate from the $23 million dollar a year pie hole of Jamie Dimon.


Jamie Dimon. You know, the CEO of J.P. Morgan Chase, the bank that just lost $2 billion in dangerous trading practices similar to those that caused the 2008 financial meltdown. Dimon, one of the directors at the Federal Reserve Bank of New York. That Jamie Dimon.

Jamie is expected to wow the crowd of shareholders at the bank's annual meeting. Either that or the crowd of these investor rabble-rousers are preparing an old timey tar and feathers party followed by a ride out of town on a rail. Tune in to your evening news on the teevee for the rest of that story.

While the shareholders were checking in for the meeting with the Mortimer Snerd of Wall Street, the Federal Reserve is busily crafting and implementing some of the most important aspects of the 2010 financial reform bill. Unfortunately, as a director, Dimon has used his position to become the leading voice against increased regulation of Wall Street.

So, what we have here is a case of the fox guarding the hen house. With any luck though, he will be easy to spot. He should be the one with the tar AND the feathers.


  1. And hopefully, Jon, that ride out of town will be without even the benefit of the cover of darkness. We can but dream. [sigh]

  2. Hi Bill,

    A daylight ride would be great! I'd love to get some pictures for the Oracle.

    Thanks for the comment. You always brighten my day.