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HomeSimon Johnson: Financial Power Corrupts System
Posted by Larry Doyle on May 23rd, 2013 9:05 AM |
Incestuous activity in every fashion is a destructive and corruptible force. Would anybody hoping to be regarded as a serious, credible individual dare say, “Hey, I think incestuous activity is actually pretty good.”
Certainly not, although those engaged in the behaviors may appreciate the benefits that accrue to them without wanting them brought to light.
On that note, the incestuous dynamic that defines the Wall Street-Washington-Regulatory menage-a-trois continues to thrive. You don’t have to take my word for it. Let’s listen to what Simon Johnson, former chief economist of the IMF, professor at MIT Sloan, and a senior fellow at the Peterson Institute for International Economics has to say on this topic. (more…)
High, Hard Heat for JP Morgan’s Jamie Dimon
Posted by Larry Doyle on June 13th, 2012 9:25 AM |
Most eyes on Wall Street will be fixated this morning on JP Morgan CEO Jamie Dimon as he provides Congressional testimony and faces questioning atop Capitol Hill.
Wall Street banks may be too big to fail, too big to manage properly, and too big to understand for most financial executives.
Jamie Dimon is unlike most financial executives.
Having worked at JP Morgan Chase for six years early last decade, I personally witnessed Dimon’s amazing level of detailed insight and analysis on more than one occasion. Do not think for a second that he was not fully aware of each and every exposure within JPM’s chief investment office. Impossible you think? (more…)
