Jamie Dimon faces more criticism
When the financial crisis peaked, Jamie Dimon was held up by many as the man who benefited most from the crisis. While some banks imploded and others got into trouble, Dimon emerged as the go-to guy for regulators and top dog of Wall Street to the consternation of other bank executives.
But the media has done a turnaround of sorts. We noticed last November that the glowing press turned down a bit and suggested the bank's PR staff gird for some tougher days ahead.
Those days are now here. The charges by Irving Picard that JPMorgan Chase was complicit in the massive Bernard Madoff Ponzi scheme has opened the gates of criticism.
"It seems as if Jamie Dimon's Teflon days are over. Now everyone wants a piece of him," notes a commentary in Fortune.
The hits have come from the media as well esteemed economists, one of whom called Dimon the "most dangerous man in America" and said he was becoming "too big to save."
It is not unusual for a CEO to face a withering change in the media tone in the wake of bad news. "It's happened to pretty much every top banker since J.P. Morgan himself. Now it's Jamie's turn. Having paid close attention to the media coverage of Dimon for the past three years, I can say with confidence that the tone is trending in a dramatically different direction than it was even 12 months ago," according to Fortune.
The commentator, who wrote a flattering biography of Dimon, jokes that Matt Taibi might be looking into this.
- here's the article