The Obama administration has laid out a plan for regulatory reform that offers a strong platform for moving forward.Now: It appears that Jamie Dimon has had his fill of the Obama regulations. The New York Times is reporting:
“Banks are under assault,” Mr. Dimon said in the call with reporters. “In the old days, you dealt with one regulator when you had an issue. Now it’s five or six. You should all ask the question about how American that is, how fair that is.”
This is not the first time that Mr. Dimon has publicly criticized the new scrutiny and rules that banks have dealt with since the financial crisis. But in the past, Mr. Dimon was often confronting skeptics from outside the banking world. On Wednesday, he faced off against several industry analysts who questioned whether the costs associated with JPMorgan’s heft are outweighing the benefits.
I assume his worse nightmare has come to fruition: Obama's Pocahontas is now a US Senator and on the Senate Banking Committee.
I have no idea why Dimon would support the party that loves regulations. From a post long ago, OpenSecrets.org is reporitng:
Since Democrats swept into congressional power in the 2006 midterm elections, many industries — including some that traditionally back Republicans — have either begun to contribute to both parties equally or favor Democrats outright.
The chief executive officer of JPMorgan Chase, however, never had to make any shift.
Jamie Dimon happens to be a long-time Democratic donor.
Dimon and his wife, Judy, have donated more than a half-million dollars to Democratic candidates and committees since 1989, according to a Center for Responsive Politics analysis of his donations. That is nearly 12 times what the couple has given the GOP.And now he complains about regulators. It will be interesting which party he supports in 2016.
Same with Warren Buffett. I don't get it. Wanting taxes raised but fighting (all the way to courts) for every tax break possible.
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