Yes, because the American public is thrilled with having to rescue the entire industry during the credit crisis. While other banks may have been worse offenders during the credit bubble, JPMorgan could have easily been swept up and into the garbage bin when the industry was faltering. Anyone who thinks otherwise is a fool and Jamie Dimon is not a fool. Maybe he’s just trying to rally the troops but his shtick is getting old. Deal with it and understand that JPMorgan employees are in the top 1% in terms of pay in America so things could be worse than a bit of bad press. The other 99% of America doesn’t quite understand what all of the whinging is about from Wall Street.
Jamie Dimon needs to move on from this subject though preferably not to the Obama administration, as is often rumored.
“We do not have change-of-control agreements, special executive retirement plans, golden parachutes, special severance packages or merger bonuses,” he told a JP Morgan healthcare conference, adding that many of company’s employees are in client-facing jobs and work hard with small and mid-size businesses.
“I am a little tired of the constant vilification of these people,” he said.