Timmy, Jamie and Paul…..
by Tom on November 23, 2009
in Market Musings, banks
Okay, a couple of thoughts about this report that people are considering Jamie Dimon from JP Morgan Chase as a successor to current Treasury Secretary Geithner:
- Do they know something that we don’t? The last that I had heard, he wasn’t up for renomination or anything like that…..
- Please tell me they aren’t thinking of Geithner replacing Bernanke? Heaven help us all if that happens.
- This brings to mind one of my favorite videos ever made about an economist….. (See below)
Tom Vanderwell
JPMorgan’s Dimon Could Succeed Geithner: Report – Financials * US * News * Story – CNBC.com
Several U.S. policy makers consider JPMorgan Chase Chief Executive Jamie Dimon as a potential successor to U.S. Treasury Secretary Timothy Geithner, the New York Post said, citing sources.
Hey Paul Krugman (A song, A plea)Technorati Tags: Paul Krugman, Jamie Dimon, Tim Geithner
Jamie Dimon: “If you are not fearful, you’re crazy”
If you are not fearful, you’re crazy.
Meredith Whitney: I’m fearful.
Jamie Dimon: we know you are. We’re waiting for you to reverse your position.
via Calculated Risk: Jamie Dimon: “If you are not fearful, you’re crazy”
Yikes, when the likes of Jamie and Meredith are scared, that’s not fun.
Tom
Paulson to Meet with Bank CEOs Today
by Tom on October 13, 2008
in Market Musings, banks
The 3 p.m. meeting is being called while most of the banking chiefs are in Washington for meetings of the World Bank and the International Monetary Fund. Invited to attend were banking executives including Ken Lewis, CEO of Bank of America, Jamie Dimon, CEO of J.P. Morgan Chase, Lloyd Blankfein, CEO of Goldman Sachs Group; John Mack, CEO of Morgan Stanley; and Vikram Pandit, CEO of Citigroup.
via Calculated Risk: Paulson to Meet with Bank CEOs Today
Two thoughts about that meeting:
1. I’d love to be a “fly on the wall” in that meeting room. Got to be some interesting conversations.
2. The fact that they are meeting today is something I find encouraging. Why? Because if anyone in the country realizes the importance of keeping both the business credit market and the mortgage credit market moving, it’s Hank and his gang.
The world isn’t going to come to an end. We’ll take a step back from the cliff and things will keep on limping along.
Should make for a better day tomorrow. Are we at a bottom? I don’t know. Am I concerned about it getting worse? Yeah, I have to admit I am. But I’m less concerned about it getting worse now that it appears the government(s) are finally starting to work toward a plan that some of the economists are saying has a chance of working. What is that? A plan to put capital into the banks that are doing fine and to “fold” the ones that aren’t into the ones that are.
It’s still going to be an interesting time and I actually think we’ll see a substantial increase over the next 4 to 6 weeks of bank mergers and bank failures.
