Jamie Dimon, aka Yankee Doodle
JP Morgan Chase is no stranger to being on the wrong side of the law, like the
current criminal investigation by the Justice Department for possibly rigging the global currency market. Or last year's
investigation into its fraudulent and abusive credit card debt collection practices. You'd think that all this bad press—and all that malfeaseance—would make CEO Jamie Dimon just a little bit circumspect, maybe even careful, about what he says out loud.
You would be wrong.
"Banks are under assault," JP Morgan CEO Jamie Dimon told reporters on a conference call Wednesday, explaining that his company now faces too much oversight. "In the old days, you dealt with one regulator when you had an issue, maybe two," he added. "Now it's five or six. It makes it very difficult and very complicated."
"You all should ask the question about how American that is," Dimon said to the reporters, according to Forbes, which notes that Dimon has a habit of invoking patriotism in his attacks on financial regulation.
Maybe Dimon's confusion about what is patriotic—screwing millions of Americans out of billions of dollars vs. a government that tries to keep Wall Street from screwing millions of Americans out of billions of dollars—lies in how much support Dimon's position is getting in the current Congress and its
commitment to rolling back what regulations do exist. He's got a majority of the House on his side, therefore he must be a great American.