Word: dimon
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Dates: during 2000-2009
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...Obama has made some attempts to play hardball with Wall Street, however. Last summer, JPMorgan tried to lowball the Administration on warrants it wanted to buy back from the government. JPMorgan's chief, Jamie Dimon, called Treasury Secretary Timothy Geithner in July personally to pressure him to sell at the low price. Geithner held out and auctioned the warrants off last week for tens of millions more than Dimon had offered, sources familiar with the negotiations tell TIME...
JPMorgan Chase CEO and Harvard Business School graduate Jamie Dimon wrote in The Washington Post on Nov. 13 that regulators should be empowered to liquidate assets and fire management when they see fit, so that individuals engaging in risky behavior will “feel the pain.” The next day, Barclays CEO John S. Varley wrote in The Sunday Telegraph that “incentives and compensation must be better aligned to delivery, must take account of risk, and must be paid out over time...
...Dimon and Varley’s editorials point to a broadening consensus that a reform of the financial services industry is necessary. But Lawrence White, a professor of economics at the Leonard Stern School of Business at New York University, questioned whether this most recent study has added new insights to the debate...
...Geithner has been working Wall Street too. In the middle of last week he met with a group of top bankers, including Jamie Dimon of JPMorgan, Lloyd Blankfein of Goldman Sachs and others, and told them that while they were welcome to fight his efforts, the political environment was on his side. "In the long run we all need to restore trust in the system," Geithner told the bankers, according to a top aide familiar with the conversation, "People want to see that something's being done." (Read TIME's cover story, "What's Still Wrong with Wall Street...
...Wall Street a century ago. But it's also an agglomeration of Chase Manhattan, Chemical Bank, Manufacturers Hanover, First Chicago, National Bank of Detroit, Bank One, Bear Stearns and Washington Mutual, among others, and this mishmash has only come together as a coherent whole since renowned details guy Jamie Dimon took over as CEO in 2005. "The teamwork culture at JPMorgan Chase is really Jamie Dimon," Ellis says...