Greek-American Dimon, President Trump Fight Over Who is Smarter

FILE- In this June 13, 2012, file photo, JPMorgan Chase CEO Jamie Dimon testifies before the Senate Banking Committee on Capitol Hill in Washington. (AP Photo/J. Scott Applewhite, File)

WASHINGTON (AP) — The nation’s top elected leader and its most powerful banker are fighting over who is smarter.

Really.

President Donald Trump early Thursday scoffed at JPMorgan Chase CEO Jamie Dimon’s claim that he could “beat” Trump and is just as tough and smarter than the president.

“The problem with banker Jamie Dimon running for President is that he doesn’t have the aptitude or “smarts” & is a poor public speaker & nervous mess – otherwise he is wonderful,” Trump tweeted. “I’ve made a lot of bankers, and others, look much smarter than they are with my great economic policy.”

He appeared to be responding to Greek-American Dimon‘s remarks first reported by CNBC on Wednesday, in which he told reporters at JPMorgan headquarters in New York that “I think I could beat Trump.”

“Because I’m as tough as he is, I’m smarter than he is. I would be fine,” Dimon said. “He could punch me all he wants, it wouldn’t work with me. I’d fight right back.”

Dimon also suggested that his wealth was earned, and not given to him by his father — another jab at Trump, whose father, Fred, gave him $1 million in financing, millions drawn against his future inheritance and a share of his real estate holdings.

Dimon quickly clarified that he is not running for president and should not have made the remarks.

The pair has a mixed relationship. The banking executive fully supported Trump’s corporate tax cuts that passed late last year, but has expressed frustration with the White House’s positions on immigration and trade.

Dimon, 62, is chairman of the Business Roundtable, a powerful lobbying group that represents the CEOs of the nation’s largest corporations, and is often seen as a voice for American business.

Trump often brags about his academic pedigree. He went to Fordham University and has an undergraduate degree from the Wharton School at University of Pennsylvania, an Ivy League school.

“I’m like a really smart person,” he’s said, and tweeted in 2013: “Sorry losers and haters, my I.Q. is one of the highest – and you all know it! Please don’t feel so stupid or insecure, it’s not your fault.”

Dimon has an MBA from Harvard Business School.

NEW YORK (AP) — The nation’s most powerful banker, JPMorgan Chase’s Chief Executive Jamie Dimon, caused a stir Wednesday when he said he would be able to beat President Donald Trump in an election.

 

1 Comment

  1. TNH…. tell your secret society sponsors from the Greek community….to stop using and identifying all Greeks as Greek Americans! The Americans born in America….are not Greek Americans….only those who have arrived from Greece and became Americans!

    Therefore , to my knowledge Mr. Dimon is made in America…and would appear to have shortened his Greek Name …to hide his ancestry….and be embraced in the White Anglo community!

    Importantly, Jimmy Dimon ,,,, has accredited himself by …..by being an employee and leader of one of the most corrupt banking system in the world……according to Forbes Magazine.

    I can only speculate….that the central banks of the EU….are part of his investment empire…who have devasted the countries of Greece and Spain…based on a financial criminal loan sharking operation….that has destroyed the future of Greece and spain…and left them with an unemployment rate of 50% of the youth of those countries!

    But today, TNH….features the ranting of Mr. Dimon…. who on que….is featured on MNBC…..one of the leading media outlets owned by the likes of MR.Dimon …to represent the interests of these billionaire Aristocrates….. desperately using their banks to control the countries of the world, but seems to leave out …how smart and honest he is …in comparison to Donald Trump ….which I highlight for the challenged readers of TNH as follows:

    Jamie Dimon became the CEO of JPMorgan Chase on January 1, 2006. At that point, the bank was more than a century old and had never been charged with a criminal felony. In 2014, the Justice Department charged JPMorgan Chase with two felony counts in connection with their role in facilitating the Madoff Ponzi scheme. The bank was given a two-year deferred prosecution agreement.

    The very next year, in May 2015, JPMorgan Chase was hit with a new felony count for its role in rigging foreign currency markets as part of a banking cartel. That’s three felony counts in two years and yet Jamie Dimon kept his job. Before the felony counts there was a $13 billion settlement with the Justice Department and Federal and State regulators in 2013 for JPMorgan Chase’s role in selling toxic mortgage investments to investors as worthwhile products when the bank had good reason to believe they would blow up.

    In 2012, Dimon himself was hauled before Congress to explain why his bank was making speculative bets with depositors’ money in high risk derivatives in London. The bank eventually owned up to losing $6.2 billion in the wild trades. The scandal became infamously known as the London Whale. In 2013, the Senate Permanent Subcommittee on Investigations released a damning 307-page report on the London Whale matter. The same year, the regulator of national banks, the Office of the Comptroller of the Currency (OCC), released the following statement regarding the London Whale trades:

    “The credit derivatives trading activity constituted recklessly unsafe and unsound practices, was part of a pattern of misconduct and resulted in more than minimal loss, all within the meaning of 12 U.S.C. § 1818(i)(2)(B)”; and “The Bank failed to ensure that significant information related to the credit derivatives trading strategy and deficiencies identified in risk management systems and controls was provided in a timely and appropriate manner to OCC examiners.”

    Senator Carl Levin, Chair of the Senate Permanent Subcommittee on Investigations at the time, said that the bank “piled on risk, hid losses, disregarded risk limits, manipulated risk models, dodged oversight, and misinformed the public.” And, unbelievably, Jamie Dimon continued his tenure as Chairman and CEO of JPMorgan Chase.

    The crime spree at JPMorgan Chase became so surreal that two trial lawyers, Helen Davis Chaitman and Lance Gotthoffer, published a breathtaking book on the subject, comparing the bank to the Gambino crime family. In addition to the settlements noted above, the authors add more details as to what has occurred on Dimon’s watch, such as:

    “In April 2011, JPMC agreed to pay $35 million to settle claims that it overcharged members of the military service on their mortgages in violation of the Service Members Civil Relief Act and the Housing and Economic Recovery Act of 2008.

    “In March 2012, JPMC paid the government $659 million to settle charges that it charged veterans hidden fees in mortgage refinancing transactions.

    “In October 2012, JPMC paid $1.2 billion to settle claims that it, along with other banks, conspired to set the price of credit and debit card interchange fees.

    “On January 7, 2013, JPMC announced that it had agreed to a settlement with the Office of the Controller of the Currency (‘OCC’) and the Federal Reserve Bank of charges that it had engaged in improper foreclosure practices.

    “In September 2013, JPMC agreed to pay $80 million in fines and $309 million in refunds to customers whom the bank billed for credit monitoring services that the bank never provided.

    “On December 13, 2013, JPMC agreed to pay 79.9 million Euros to settle claims of the European Commission relating to illegal rigging of benchmark interest rates.

    “In February 2012, JPMC agreed to pay $110 million to settle claims that it overcharged customers for overdraft fees.

    “In November 2012, JPMC paid $296,900,000 to the SEC to settle claims that it misstated information about the delinquency status of its mortgage portfolio.

    “In July 2013, JPMC paid $410 million to the Federal Energy Regulatory Commission to settle claims of bidding manipulation of California and Midwest electricity markets.

    “In December 2013, JPMC paid $22.1 million to settle claims that the bank imposed expensive and unnecessary flood insurance on homeowners whose mortgages the bank serviced.

    REALLY….. Spiro and TNH….. is it your purpose …to continue to demean our Church, the Greek Population and journalism…with your articles …designed to demean political figures …not compliant to your billionaire financial benefactors

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