Monday, April 05, 2010

Jamie Dimon: Most Dangerous?

As part of their coverage of the politics of financial reform, Huffington Post published an article last week by Simon Johnson calling Morgan Chase CEO Jamie Dimon the most dangerous banker in American history.

But it's not a strong case.

Johnson's main reasoning is that Dimon is dangerous because he has a lot of credibility stemming from the fact that he steered Morgan Chase away from all of the speculative strategies that led to the last crunch.

That means that Dimon could have a big role in influencing financial reform to the interest of big banks like Morgan Chase.

That may be the case.

But the most dangerous bankers in America are still trying to leverage CDO's and other bad debt into huge bonuses.

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