iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Dimon Unloads on DC During Conference Call: ‘It’s Almost An Embarrassment Being an American…Listening to the Stupid Shit’

The CEO of JP Morgan, Jamie Dimon, unloaded on the fucking assholes running our country into the ground during JP Morgan’s conference call this morning. Can you blame him?

Bear in mind, this is a man who helped save America from its financial crisis during 2008. Remember, JP Morgan bailed out and bought Bear Stearns and Washington Mutual in 2008 — two deals they probably would not have taken without government pressure. We are reminded of American stupidity on a daily basis, watching complete fucking morons make fools of themselves on national tv. All you have to do it listen to Maxine Waters or Lindsey Graham for 2 minutes, and then you’d agree with Dimon when he says ‘it’s almost an embarrassment being an American citizen.

Here’s the transcript of what he said.

Since the Great Recession which is now eight years old we’ve been growing at 1.5 to 2% despite the stupidity and political gridlock. Because the American business sector is powerful and strong and is going to grow regardless of they went to feed their kids and want to buy home they want to do things the same as American businesses what I’m saying is it would be much stronger growth had we made intelligent decisions and that gridlock, and thank you for pointing it out because I’m going to be a broken record until this gets done, we are unable to build bridges, unable to build airports, not graduating.

I was just in France in Argentina Israel Ireland we met with the Prime Minister of India and China it’s amazing to me that every single one of those countries understands that practical policies to promote business growth is good for the average citizens of those countries for jobs and wages and somehow this great American free enterprise system we no longer get it.

My view is corporate taxation is critical to that by the way regarding capital brings overseas, which is why the $2 trillion overseas benefiting all these other countries don’t like that, so if we don’t get our act together we can still grow. It’s just unfortunate but it’s hurting us, it’s hurting the body politic, it’s hurting the average American that we don’t have these right policies. So no in spite of gridlock we will grow at 1 ½ or 2%.

I don’t buy the argument that we are relegated to this effort. We are not this administration can make breakthroughs in taxes and infrastructure ready for reform we have become one of the most bureaucratic confusing litigious societies on the planet. It’s almost an embarrassment be an American citizen traveling around the world and listening to the stupid shit we have to deal with in this country and at one point we have to get our act together. We won’t do what were supposed to for the average American and unfortunately people write about this like corporations is not corporations competitive taxes are important for business and business growth which is important to jobs in wage growth and we should be making that along to every single one of you every time you talk to a client.

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23 comments

  1. bearraid

    Troof

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  2. Cricket

    Jamie’s right about the swamp. So far DC continues to be the problem, not the solution.

    And it’s not the corporation tax, which is just a pass-through to customers. It’s all the personal taxes that are an elephant on the back of humanity. Eventually Atlas will shrug. I don’t think even the mighty Dimon, or the circles he moves within, gets it.

    There’s a wide gap opening up for a third party. Zuckerberg is exploring this opportunity. Watch him over the next couple of years – it’s getting interesting.

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    • paradox

      Kill me now if Mark Zuckerberg is ever to hold public office. I would take Hilary Clinton 100,000x’s over compared to that guy. Silicon Valley culture is the very, very worst across the entire spectrum of the left, imho.

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      • Cricket

        Keep an eye on him. He’s was in ND last recently. The way things are going in DC, neither the Republicans or Democrats are fit for office.

        I can’t see him running, but I can see him as the nucleus of a new party.

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    • ferd

      Any third party candidate will be RonPauled.

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  3. og

    Forget the banks. Nice call on AAOI.

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  4. traderconfessions
    traderconfessions

    One-third of Americans have no savings for retirement.

    52 percent of men and 69 percent of women — report that they don’t have enough in an emergency fund to cover six months’ worth of expenses.

    Only a small percentage of Americans own stocks.

    So the benefits of lower corporate tax rates accrue to whom? I don’t want to hear about lower tax rates when corporations waste money buying back their own stock rather than raising wages or investing in their business.

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    • Cricket

      Eliminate income tax and all the regulation that goes with it. Texas, Florida, Alaska and a few other states have no income tax – they derive income from indirect taxation. If you compare these states to the others you will find that they are the among the most vibrant, solvent and fiscally responsible.

      Look at Illinois and California for example. Income tax and fiscally a complete disaster.

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      • traderconfessions
        traderconfessions

        You want to eliminate Fed income tax?

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      • michael

        Kansas is trying to move to zero income tax and it’s not working. I’d like to see it but the path to get there is very rough.

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  5. sarcrilege

    Dimon is a bankster…and I call complete bullshit on this:
    ” I was just in France in Argentina Israel Ireland we met with the Prime Minister of India and China it’s amazing to me that every single one of those countries understands that practical policies to promote business growth is good for the average citizens of those countries for jobs and wages..”

    Especially India, France and Argentina, needless to say, the other countries are just as bad.

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  6. MSGT HARTMAN

    Dimon, the pot calling the kettle black, that’s rich.
    The man went to the white house more times than the Vice President, spends millions lobbying congress, influencing the laws that govern his banks.
    So why is he just now complaining? Did his wife cut him off?

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  7. ferd

    It’s not complete BS. Just imagine if all the resources pissed away in mid-east wars was spent on bridges, rail, etc. We’d then have something tangible to show for all the Fed’s QE, tricks. Empires always commit suicide.

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  8. georgiebest

    what governments can do is infinite, the only thing holding governments back is inflation in a financial sense. Politicians are career people but there should be a solid understanding of the monetary system, unfortunately there are many schools of thought on that and this costs people, health care, shelter and opportunity when the monetary system is not understood.

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  9. soupbone

    Look to the Swiss canton system. Distributed government. But your sorry asses will have to do mandatory military service. Whereby nobody gets hurt except your sorry loose ass meat. Youse have been twits par excellance for decades, but you do have the money. No question about that.

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  10. moosh

    Kind of a megatron power move though, no?

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