James Dimon, CEO of JP Morgan Chase, said in a speech to stockholders yesterday, "Acting like everyone who's been successful is badand that everyone who is rich is bad,” he said. “I just don't get it." It is hard to know what to respond to first: the fact that he is clueless, or the fact that he thinks he is successful. Rich, yes he is rich. But rich is not the same as successful. Often, rich is the opposite of successful. Rich is the symptom of a system that has allocated its resources illogically, responding to the kind of power differentials that are at the heart of rentseeking and monopoly. On Dimon's scale, Idi Amin was successful. Even in the narrow field of bank management, Dimon has been anything but successful. As the head of JP Morgan Chase in 2008, Dimon's leadership essentially led the bank to the brink of bankruptcy, and it would have gone over if if the Fed hadn't thoughtfully chosen to 'loan' it emergency money to the amo
“I’m so bored. I hate my life.” - Britney Spears
Das Langweilige ist interessant geworden, weil das Interessante angefangen hat langweilig zu werden. – Thomas Mann
"Never for money/always for love" - The Talking Heads