Welcome Guest [Log In] [Register]


Welcome to Conversations. We hope you enjoy your visit.


You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free.


Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
Dimon: Exec Should 'Know' A Swamp When He Sees One
Topic Started: Jul 18 2017, 03:06 PM (4 Views)
Webster
Member Avatar
Wasatch Storyteller & Resident Forum Curmudgeon
[ *  *  *  *  *  *  *  *  *  * ]
One News Now: Exec Should 'Know' A Swamp When He Sees One

Posted Image
Quote:
 
A high-profile business executive continues to make headlines for talking about gridlock and dysfunction in Washington, but one commentator suggests that executive ought to take a look in the mirror.

In a recent conference call, JPMorgan Chase CEO Jamie Dimon said the U.S. economy has been growing at 1.5 to 2 percent in spite of stupidity and political gridlock, because the American business sector is powerful and strong. "What I'm saying is it would be much stronger growth had we made intelligent decisions and were there not gridlock," Dimon added. "We have become one of the most bureaucratic, confusing, litigious societies on the planet."

Dimon went on to say that it's "almost an embarrassment" being an American citizen traveling around the world and listening to things that U.S. citizens have to deal with. "And at one point, we all have to get our act together or we won't do what we're supposed to do for the average Americans," he continued. "Competitive taxes are important for business and business growth, which is important for jobs and wage growth."

Justin Danhof of the Free Enterprise Project (FEP) at the National Center for Public Policy Research says it's not wrong to say there is dysfunction in Washington. "But what I would have to say is that it takes a lot of hubris for someone on Jamie Dimon's part to call out dysfunction in Washington, DC, considering that as the CEO of JPMorgan Chase, he is the definition of 'the swamp' – and has been for quite some time," says Danhof. "His hands really are tied when it comes to speaking on these issues, in my opinion, because we can go down the long list of cronyism but I think it begins and ends with the American taxpayers bailing out companies such as JPMorgan during the financial crisis."

The Free Enterprise Project has attended JPMorgan Chase shareholder meetings in the past and filed a shareholder resolution in 2015 to protect the political freedom of company employees. "I think they've returned to the radar with silly comments like this," says Danhof.
Offline Profile Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
« Previous Topic · The News Hub · Next Topic »
Add Reply

Aquös by tiptopolive of the ZB Theme Zone