Jamie Dimon: It Would "Be Criminal To Subject Our Company" To A Trial

[kpete]

Jamie Dimon: It Would "Be Criminal To Subject Our Company" To A Trial
By Nicole Belle January 25, 2014 11:40 pm
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It's not enough to be rewarded for financial malfeasance, http://abcnews.go.com/Business/jpmorgan-chase-ceo-jamie-dimon-pay-raise/story?id=21651249 Jamie Dimon wants everyone to know to hold him accountable for it would be...in a word, criminal.



....................Jamie Dimon told an audience of his fellow elites in Davos, Switzerland that it would have been "criminal" to subject JPMorgan Chase to a trial.

Dimon said JPMorgan had "two really bad options" in choosing to settle or fight the cases. Going to court could have taken three or four years and the outcome could have been worse, he said.

"It would really hurt this company and that would have been criminal for me to subject our company to those kinds of issues," Dimon said.

Personally, I think that paycheck is criminal. Clearly, we don't see eye to eye on the notion of personal and fiscal responsibility. I'm proud to say that Elizabeth Warren sees it the same way I do:

Wow. In this interview, JPMorgan head Jamie Dimon explains why it is so important for big banks to settle with regulators after they break the law and avoid going all the way to court. It would be really costly, he says. Well, duh. I hope the banking regulators were listening. If they are never willing to go to trial either - which sure seems to be the case - they have a lot less leverage in their settlement negotiations.
https://www.facebook.com/ElizabethWarren/posts/10103049130899056?stream_ref=10

the rest:
http://crooksandliars.com/2014/01/jamie-dimon-it-would-be-criminal-subject

[Scuba]

1. Did he mentionn this while lunching with Penny Pritzker?

[Enthusiast]

2. Kicked and recommended a whole bunch.....nt

[mucifer]

3. Someone has good friends in high places.

some people are above the law.

[L0oniX]

4. Fucking megalamaniac!

[rustydog]

5. If anyone would know criminality

right?

[jsr]

6. Laws are for the little people

[Skidmore]

7. Everytime I see that man's name, I think of Scarborough insisting that Dimon would

make a great President.

[Fumesucker]

8. The lumpenproletariat need to be reminded of their proper place from time to time

[lonestarnot]

9. Whimpering fucking dingo.

[Taitertots]

10. This is why we need to stop letting people have corporations

Corporate officers are legally obligated to take as much as possible with no consideration for how much it hurts the nation.

[quakerboy]

11. This is misleading

The quote is bad enough, theres no need to subtract words to change the meaning. The "for me" portion of it is very important.

I dont for a moment think he is taking personal responsibility, but that one quote at least, does not say he thinks its criminal of the government to prosecute him. It says that he decided it would be more expensive for JPM to go to trial when he could settle the case out of court. It is informative that more expensive to the company = Criminal. And it explains why so many companies are willing to bend or break rules regarding safety and common sense in order to save a few cents.

Warrens page reflects that understanding as well, so I'm pretty sure im not misunderstanding this one.

[riqster]

12. And if anybody knows from "Criminal", it's Dimon.

[yourout]

13. It would be "criminal" not to.

[dickthegrouch]

15. Not "would be": Is !

Even using the Clinton definition of "Is"

[Dustlawyer]

14. Good trial lawyers know that you have to prove that you can, and will, try cases and beat them!

Bloody their noses a few times and they will stop their bad behavior. If there is a very real possibility for going to prison for the same conduct that they only pay fines for now, the bad conduct would become very rare. The problem is that the Regulators can kiss that kushy, private sector job goodbye if they do go after them!

[JCMach1]

16. Insist on a Corporate Death Penalty...

[Spitfire of ATJ]

17. It's like Al Capone claiming Eliott Ness should be jailed.

[JDPriestly]

18. Elizabeth Warren is right.

Jamie Dimon thinks that he and his company are God. He thinks that they decide the fate of the world. We don't need Jamie Dimon or JPMorgan Chase. What we need is ethical businesses and businessmen.

But still Jamie Dimon took the responsibility for settling the case against JPMorgan. He didn't say "it" would be criminal for the government to take the company to trial. He said "it" would be criminal for him, for Jamie Dimon, to allow the company to go to trial. He was explaining why he settled.

I'm not a fan of Jamie Dimon, but let's be fair and honest in reading his statement.

[Rex]

19. Banksters control the world.

They live way, way above any law that affects us working stiffs. They are allowed to get away with ruining countless lives and displacing unknown amounts of families on the streets.

[Jesus Malverde]

22. ^^This^^

[Rex]

25. I hate to be blunt about it, but they destroy the social fabric

of societies whereas maybe at one time they helped build society. I am not talking about your local bank, I am talking about these huge out of control financial institutions that make and break thousands of FAMILIES a day.

If their crimes are not considered huge moral-ethical issues by governments, then the people of those nations should expect more personal tragedy at the hands of the 1%.

No regulations or oversight on a uber wealthy bank robber means plenty of empty banks and mad customers.

[noiretextatique]

26. bail out the people, put the banksters in jail

Worked for Iceland.

[El_Johns]

24. +1

[lsewpershad]

20. Sounds

like a challenge to Obama and Holder.

[Schema Thing]

21. No, Elizabeth Warren *doesn't* see it the same way

...as the writer quoted in the OP.


This writer mis-characterized what Dimon actually said "It would really hurt this company and that would have been criminal for me to subject our company to those kinds of issues,". Big difference.

Just because you don't like, or even hate someone, doesn't mean it's ok to lie about what they say.


Elizabeth Warren managed to appropriately mock Jamie Dimon w/o lying about what he said: "It would be really costly, he says. Well, duh. ".

[SamKnause]

23. Jamie

There should be a class action lawsuit filed against these thieves.

Our government should be held accountable for bailing these thieves out and choosing not to prosecute.

When those who make the laws ignore the laws, there is no law.

From this point on they know they can get away with anything and the government will bail them out.

Their power has not been reined in.

They are bigger than they were before the crash.

Our government is acting against the best interest of we the people.

The citizens is this country should be enraged at the injustices being perpetrated on the population.

[Cha]

27. Orwellian Bullshit. Next?

[Jack Rabbit]

28. It would be criminal to NOT

Throw Legs Dimon in the slammer and then throw the key in the Mariana Trench.

[AtheistCrusader]

29. He means it would be criminal of HIM to allow it to come to trial.

Which, having fiduciary responsibility as a corporate officer, that might technically be true, but it would be hard to prove he DIDN'T pump his cronies in the regulatory apparatus for a pass, and a slap on the wrist settlement.

And that, is precisely what is wrong with the financial system.

[blkmusclmachine]

30. Isn't this the guy who said he's "doing the Lawd's work"???

[markpkessinger]

31. To be fair, I don't think that's the gist of what he's saying . . .

I'm certainly not a fan of Dimon, but I don't think he is saying that it would be "criminal" to hold him accountable. He's talking about the options he faced as a company president and CEO, which were to either agree to settle or to go to trial. He's saying that it would have been "criminal" for him, as President and CEO of JPMorgan Chase, to choose to go to trial rather than to settle. Whether one agrees with that assessment or not, his first legal responsibility is to protect shareholder interests. I think he is saying that choosing to go to trial, with all of the risks, media coverage, etc. that would entail, would be 'criminal' insofar as it would potentially be more harmful to the well-being of his organization, and also to the interests of the shareholders of that organization.