When Jamie Dimon talks, people listen. But does that include people in Washington and occupants of the White House?
In a rant heard around the corporate world, the JPMorgan Chase CEO didn’t attack President Trump head-on, but a critique could be inferred.
“It’s almost an embarrassment being an American citizen traveling around the world and listening to the stupid s— we have to deal with in this country,” Dimon said.
“Since the Great Recession, which is now 8 years old, we’ve been growing at 1.5 to 2 percent in spite of stupidity and political gridlock, because the American business sector is powerful and strong. What I’m saying is it would be much stronger growth had we made intelligent decisions and were there not gridlock.”
Of course, some might doubt Dimon’s credibility on the economy, given the role his company had in the Great Recession (for selling junk mortgage-backed securities.)
JPMorgan paid a $13 billion penalty for that offense.
CNBC posted much of Dimon’s taped remarks. A snippet:
I’m going to be a broken record until this gets done. We are unable to build bridges, we’re unable to build airports, our inner city school kids are not graduating….
I was just in France, I was recently in Argentina, I was in Israel, I was in Ireland. We met with the prime minister of India and China. It’s amazing to me that every single one of those countries understands that practical policies to promote business and growth is good for the average citizens of those countries, for jobs and wages, and that somehow this great American free enterprise system, we no longer get it. …
And unfortunately people write about this saying like it’s for corporations. It’s not for corporations. Competitive taxes are important for business and business growth, which is important for jobs and wage growth. And honestly we should be ringing that alarm bell, every single one of you, every time you talk to a client.
>> Want to read more stories like this? Get our Free Daily Newsletters Here!Follow us: