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Sun May 6, 2012, 09:43 PM

In Case You Missed This... 'JPMorgan Chief Jamie Dimon Asks For Simpson-Bowles Now' - Forbes

And the roundtable on MTP all seemed to agree this is coming back from the dead...

JPMorgan Chief Jamie Dimon Asks For Simpson-Bowles Now
Agustino Fontevecchia, Forbes
5/03/2012 @ 3:40PM



<snip>

Jamie Dimon did his thing, and people liked it. The chairman and CEO of what many consider to be the best bank in the U.S. came out guns blazing and touched on every issue related to regulation and banking.

Dimon was speaking his mind Thursday at a a conference put on by the Simon School at the University of Rochester, where he received the “Executive Of The Year” award. The head of JPMorgan Chase expressed support for the Simpson-Bowles bipartisan budget plan, echoing earlier remarks at the event on the latter point made by General Electric chief Jeff Immelt. Dimon also called the persecution of oil price speculators “ridiculous,” asking the Obama Administration, Republicans, and everybody to unite and “get <things> done.”

After acknowledging the severity of the European sovereign debt crisis, and the only temporary effect of the ECB’s LTRO liquidity programs, Dimon said “the U.S. is the opposite of Europe, we know the way , it’s called Bowles-Simpson.”

“Our problem is that we don’t have the will,” explained Dimon. The problem in the U.S. is political, he explained, as Democrats and Republicans have pushed each other so far apart that they’ve created unnecessary problems, such as the debt ceiling crisis, that aren’t structural but political in nature.

“Why the hell are we so depressed,” he said, adding “we have the best military in the planet, the best universities and the best businesses incredible innovation, from Steve Jobs to the factory floor.”

<snip>

More: http://www.forbes.com/sites/afontevecchia/2012/05/03/jamie-dimon-obamas-persecution-of-oil-speculators-is-ridiculous/




14 replies, 2049 views

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Response to WillyT (Original post)

Sun May 6, 2012, 09:46 PM

1. The false equivalency thing again.

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Response to WillyT (Original post)

Sun May 6, 2012, 09:48 PM

2. We're depressed because Wall St. continues to raid Working American's wealth with impunity

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Response to FreakinDJ (Reply #2)

Sun May 6, 2012, 11:50 PM

11. Yes, and Simpson-Bowles will help them do more raiding.

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Response to WillyT (Original post)

Sun May 6, 2012, 09:55 PM

3. It's just waiting until after the elections

Then whichever representative of the Party that wins will surprise you all with the news that you voted for Austerity, no matter what you thought you were voting for. Of course, when Dimon J. bothers to pull his hand out of ________'s ass long enough to voice his demands directly instead of indirectly, he says he wants it RIGHT NOW.

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Response to kenny blankenship (Reply #3)

Sun May 6, 2012, 10:02 PM

4. +1

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Response to kenny blankenship (Reply #3)

Sun May 6, 2012, 10:41 PM

6. They're starting the PR already, and the disabled are in the crosshairs

Job disability a headache for recovery

Reuters – 7 hours ago


Applicants soared to a record high of 2.94 million in 2010, and have held above 18 per 1,000 workers in the past three years - a far higher rate than in previous recessions.

"There are serious concerns that this increase in disability benefits is a type of 'hidden unemployment,'" said Richard Burkhauser, a professor of economics at Cornell University.

Even though only 35 percent of applicants are awarded disability, those receiving disability benefits now account for 5.6 percent of the working age population, up from about 4.5 percent in 2007. At this rate of growth, Burkhauser estimates that total would reach over 7 percent by 2018.

---------

To keep the combined system afloat, we're going to have to raise taxes, cut benefits, or probably do both," said The Urban Institute's Johnson.

http://finance.yahoo.com/news/job-disability-headache-recovery-185141631.html;_ylt=AqkG_DJ48cHptMCqjHmGaeiiuYdG;_ylu=X3oDMTQ0OTRqY3JvBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yeSBSaWdodARwa2cDMGRiMmNjNzgtZmQyMi0zNGI0LTkwY2UtZDIwOWFmMjMzYTMyBHBvcwMxBHNlYwN0b3Bfc3RvcnkEdmVyA2RiNGRlNWIwLTk3YWMtMTFlMS1hZGVmLTc2Nzk1MjY3MmE0NQ--;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

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Response to DJ13 (Reply #6)

Sun May 6, 2012, 10:57 PM

7. Thank You For That !!!


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Response to WillyT (Reply #7)

Sun May 6, 2012, 11:01 PM

9. You're welcome

I debated doing an OP about it, but I think your threads get more attention.

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Response to DJ13 (Reply #6)

Sun May 6, 2012, 11:01 PM

8. i think some percent of those folks are people who would have kept working if they'd had a job.

 

ssi is up too since the recession -- above normal trendline.

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Response to kenny blankenship (Reply #3)

Mon May 7, 2012, 11:51 AM

13. well, he is preparing the ground too

The co-ordinated push for it starts now. This is like one chop of the axe. Others will follow so that in seven months, the tree will be weakened enough to be pushed over.

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Response to WillyT (Original post)

Sun May 6, 2012, 10:33 PM

5. another CEO sociopath blaming everybody but himself.

 

Quelle surprise...

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Response to WillyT (Original post)

Sun May 6, 2012, 11:12 PM

10. In a way, I am glad he said it

because when he says "we know the way" the way I would finish that sentence is

"we know the way - that the 1% wants us to take".

Amazingly enough, what is good for the 1% is not good for the bottom 80%.

That makes it very clear that we do not want to go that way.

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Response to hfojvt (Reply #10)

Sun May 6, 2012, 11:53 PM

12. The French and the Greek know that "the way" leads to worse conditions for the 99%

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Response to WillyT (Original post)

Mon May 7, 2012, 11:55 AM

14. I have little doubt that the buzzword after Obama's reelection will be

"Grand Bargain", once again. And I think he'll get it this time, because he's going to have so much more "flexibility" and can completely disregard the left at that point.

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