JPMorgan CEO sees more bank consolidation ahead

Discussion in 'Wall St. News' started by MrDODGE, May 4, 2009.

  1. I'm not sure about "jumping for joy." I mean, look at the dressing-down Dimon had to take before Congress, and all that rigmarole about bonuses for firms receiving TARP funds - they took TARP because they were *asked* to, just like they bought Bear Stearns because they were *asked* to. I'm not so sure JPM is so keen to do the government any more favors.
  2., I think the debacle over Ken Lewis being strongarmed by Paulson into buying ML has really cast a light on what happens when Uncle Sam asks you to "do your bit" for the economy. I think there will be tremendous skepticism among shareholders and boards of directors regarding due diligence on financial sector takeovers from now on...
  3. Mvic


    He has changed his tune from a few weeks ago, not quite as rosy and optimistic.
  4. Dimon's life mission is to merge all banks into one entity with him as chairman. :cool:
  5. Mvic


  6. eagle


    No. But at least he is much better than his peers.

  7. Daal


    When you are sitting on massive derivatives counterparty risk somehow you always find more appealing a world where everybody merges and there are no failures