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Non-Tech : Derivatives: Darth Vader's Revenge
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To: Worswick who wrote (1480)1/22/2010 11:10:12 PM
From: Sam  Read Replies (1) of 2794
 
Sam is this you?

No, it's another Sam, but the sentiments and even the tone could have been me.

Who knew that this DUH mentality went all the way to the top.

Yeah, right. Dimon is a piece of work. Whether he really did believe that housing prices would go up forever, or he was just lying to the Commission in an attempt to CYA, he should be canned, pickled and fined. The former is probably worse than the latter in terms of whether or not he should be the CEO of a major bank. Of course, we have Supreme Court Justices who baldly lied at their confirmation hearings, so I guess it is just de rigeur to lie to Congress or to official government commissions.

If this Commission is reality based, they will minimally find a way to question Dimon's truthfulness and/or competence in their final report. We'll see.

Remember a few weeks ago, Dimon's name somehow was floated as a replacement for Geithner to be Secr of Treasury? My guess is that that was done in order to try to pressure Obama to replace Geithner with someone who would be even more friendly to the Big Banks. Word must have begun to leak out that Obama was listening more to Volcker, and would make proposals to actually regulate the banks. They wanted someone on the inside, and it obviously couldn't be someone from GS.

Interesting times. Earthquakes and potential earthquakes and aftershocks all over the place.
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