The Sleazy Nepotism & Cronyism Is So Thick, You Can Cut It w/A Knife

Discussion in 'Wall St. News' started by ByLoSellHi, Jul 19, 2009.

  1. Obama Aide Declines Visit to Bank Board

    http://www.nytimes.com/2009/07/20/business/20speak.html?hpw

    By JACKIE CALMES
    Published: July 19, 2009

    WASHINGTON —
    The White House chief of staff, Rahm Emanuel, has decided not to speak to the board of JPMorgan Chase when it meets here on Monday, he said Sunday after considering the invitation for several days.

    Mr. Emanuel is a longtime acquaintance of the bank’s chairman and chief executive, Jamie Dimon, who previously headed BankOne in Chicago, where he met some influential Democrats, including Mr. Emanuel and President Obama.

    Because of his relationship with Mr. Dimon, Mr. Emanuel agreed to consider JPMorgan’s invitation after the Treasury secretary, Timothy F. Geithner, declined out of concern that he would appear too cozy with a company that has numerous business and regulatory dealings with his department.

    Mr. Emanuel first sought advice from the White House counsel’s office about the propriety of meeting with the bank’s board. Mr. Emanuel said Sunday evening that the White House counsel held him to the same standard as Mr. Geithner when it came to avoiding what might be seen as a conflict of interest.

    Two officials for JPMorgan said the bank had no comment. Another administration official and two lawmakers were also expected to speak to the board, but their identities have not been disclosed.

    Mr. Emanuel’s decision came after a New York Times article on Sunday about Mr. Dimon’s heightened profile and influence in Washington amid an economic crisis that has humbled much of the industry, both financially and politically. The report cited the initial expectation that Mr. Emanuel would speak to the JPMorgan board as an example of Mr. Dimon’s political influence.

    Mr. Dimon has long been a Democratic donor in a generally Republican-oriented industry. His company has not been implicated in the crisis to the extent others have, and its quarterly report last week detailing robust earnings confirmed JPMorgan’s pre-eminence.

    The Chicago political scion William M. Daley, a former commerce secretary and Obama campaign strategist, has been a vice chairman of JPMorgan and head of its Midwest operations since 2004; since 2007, he also has overseen its government relations efforts.

    Mr. Dimon is also a friend of Valerie Jarrett, a senior White House adviser and a longtime confidante of the Obamas, from business, civic and political activities in Chicago.

    Mr. Dimon first met Mr. Emanuel when Mr. Emanuel was a White House adviser to President Bill Clinton. After Mr. Emanuel left that job in 1998, Mr. Dimon invited him to consider a position at Citigroup, the banking supermarket that Mr. Dimon had helped build with Sanford I. Weill, his onetime mentor.

    Mr. Emanuel went instead to another firm, and a short time later Mr. Dimon was fired at Citigroup. That led to his move to Chicago and BankOne; when it merged with JPMorgan in 2004, Mr. Dimon took charge of the combined company and was back on Wall Street.

    After 2007, Mr. Dimon decided to ramp up government lobbying efforts. He called it JPMorgan’s “seventh line of business.”
     
  2. I fail to see any connection or reason for bawling.

    No where near as bad as a war mongering scum of a VP handing our INFLATED NO-BID contracts to his previous corrupt corporation.
     
  3. His company has not been implicated in the crisis to the extent others have, and its quarterly report last week detailing robust earnings confirmed JPMorgan’s pre-eminence.


    Huh? JPM's earnings were lame.
     

  4. Classic case of been down so long looks like up to me!
     
  5. Posting on the wrong board again?

    Here is where you should be posting http://www.gaypatriot.net/ mr short and naked. We all know by now republican = fag





     
  6. Who gives a shit, rep or dem, they are all there to suck you dry of your hard-earned dollars... still don't get it?