Jamie Dimon's latest outburst
JP Morgan Chase CEO Jamie Dimon is either a brilliant PR person or so angry he's having trouble controlling himself.
His latest confrontation over Basel III took place last week in Washington, where global financial leaders had assembled for meetings of the IMF and World Bank, and where top bank executives had gathered for various meeting held by financial lobbies. So it was that Mark Carney, the Bank of Canada governor, was invited to meet a group of about 30 CEOs. He could not have predicted that none other than Jamie Dimon would take the opportunity to unload on him about global capital requirements, saying he would continue to use the term anti-American as he agitates against Basel III.
"The atmosphere was so bad after the meeting that Lloyd Blankfein, chief executive of Goldman Sachs and head of the Financial Services Forum bankers' group which arranged the session, emailed the central banker to try to smooth relations."
Two days later, Carney gave a speech in which he said, "If some institutions feel pressure today, it is because they have done too little for too long, rather than because they are being asked to do too much, too soon."
So what is Dimon up to? On the one hand, his outbursts have generated lots of media--and that may be the point. He has taken it upon himself to lead the bank protest. If that's the PR strategy, it has worked brilliantly. The media after all his outbursts could not have been more to the point. On the other hand, if these outbursts and subsequent media coverage were not planned, then his PR handlers may want to have a talk with him. Hopefully, he would listen to them.
For more:
- here's the article
Related articles:
Jamie Dimon: Basel III is "anti-American"
Jamie Dimon's California tour




Comments