New Economic Perspectives has the article Jamie Dimon: You Make Us Embarrassed to be Americans by Bill Black.
The best economic estimate of the lost U.S. GDP over the course of the Great Recession is $24.3 trillion. Elite U.S. Bank CEOs led the three most destructive fraud epidemics in world history that hyper-inflated the housing bubble and drove the financial crisis that drove the Great Recession and caused this massive loss of economic growth. It is as if the arsonist that caused the firestorm that led to the largest forest fire in U.S. history that destroyed most of the forests of twelve states then held an expletive-laden rant denouncing the slow growth of the U.S. timber industry.
Apparently Jamie Dimon is the Wall Street Journal’s idol despite what Bill Black says about him.
Dimon is enraged that plaintiffs sued JPMorgan so often and so successfully for so many of the elite frauds that caused the financial crisis that drove the Great Recession and caused the massive loss of U.S. growth. It is not enough for Dimon that the federal prosecutors that Jesse Eisinger has portrayed as members of “The Chickenshit Club” in his newly published book refused to prosecute the millions of crimes for which JPM is criminally liable. It is not enough for Dimon that no prosecutor ever charged the JPM senior officers who led and covered up the frauds that drove the crisis. It is not enough for Dimon that the federal non-prosecutors did not require the resignation of any senior JPM officer for leading those frauds. It is not enough for Dimon that the federal non-prosecutors (and JPM’s board of directors) failed to “claw back” the bonuses that thousands of JPM officers received as those frauds’ proceeds. It is not enough that Dimon not only kept his job and his bonuses – he received huge raises for leading America’s largest criminal enterprise and (often) losing money for the shareholders.
If The WSJ has their way, and Dimon runs and wins the USA Presidency in 2020, he will do far more damage than Donald Trump could even imagine.