Courtesy of Pam Martens.
One of the Scenes from the Christmas Card of Jamie Dimon, Chairman and CEO of JPMorgan Chase
By Pam Martens and Russ Martens: August 20, 2015
Judging by the speed at which U.S. billionaires are going unfiltered on the airwaves and in print, the U.S. may soon find itself indelibly defined as a nation of well-heeled meatheads.
Yesterday we reported on billionaire Sandy Weill, whose crackpot idea of a financial supermarket and rollback of the Glass Steagall Act resulted in his becoming a billionaire despite the implosion of his creation, Citigroup, in 2008. Citigroup became the largest banking bailout in U.S. history and a catalyst for the largest U.S. downturn since the Great Depression. Now in their twilight years, Weill and his wife, Joan, have nothing better to do than attempt to gut a dead man’s will in order to chisel Joan’s name into the façade of Paul Smith’s College, a 1,000-student campus in New York’s Adirondack mountains.
As the Weill article evolved, reflecting a life-long pattern of “let them eat cake,” a legitimate concern came to mind that aging will only accentuate the bad behavior of America’s one percenters if average Americans don’t grab the high road and call out the behavior.
Thoughts quickly moved to what JPMorgan CEO Jamie Dimon might be like at 80. In 2014, the same year that JPMorgan became the first major Wall Street bank in history to receive a deferred prosecution agreement for felony actions in the Bernie Madoff matter, and in a year in which it rarely left the front pages of the business press for charges of assorted malfeasance against consumers, Jamie Dimon was mailing out a Christmas Card so lacking in humility that it went viral within moments of arriving in mailboxes.
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