U.S. BANKING: JP Morgan's Jamie Dimon Has Big Plans For Big Ego That Could Bring Biggest Disaster.

BLOOMBERG/ S. Johnson/

JOHNSON: Jamie "Dimon... wants JPMorgan to become more global, especially by expanding more into emerging markets. U.S. Treasury Secretary Timothy Geithner endorsed this approach in an interview he gave to the New Republic, effectively arguing that we should want big, highly leveraged U.S. banks to make large bets on highly volatile emerging markets.
    With Geithner firmly entrenched at the Treasury Department and with Bill Daley, former senior lobbyist at JPMorgan, now Barack Obama’s chief of staff, Dimon has all the political cover he needs.
AND: So when a big bank next gets into trouble, the choice will be between allowing a meltdown, with presumably awful financial consequences, and providing a bailout, which can have big fiscal impact.
Cautionary Tale
     Recent experiences in Ireland should warn us all against the we’ll-do-a-bailout-when-needed approach advocated by Geithner."

On The Current Influence And Growing Arrogance of Jamie Dimon.

From the NYTimes.

"Mr. Obama has singled out Mr. Dimon for praise more than once. Yet some Democrats say Mr. Dimon can be too outspoken, and deaf to the anti-bank sentiment of the country. When he complained in a March speech about Washington’s vilification of Wall Street, more than 40 House Democrats shot off a protest letter."

What's the Matter with Jamie Dimon and JP Morgan/Chase?

J.P. Morgan/Chase chairman Jamie Dimon has been whining for months about the TARP program, calling inclusion in it "a scarlet letter," bitching and moaning about the government control that came with it.

Today, Dimon got his wish... permission to repay the US... the $25 Billion he says he was forced to take.

What a crybaby!

Dimon and JP Morgan/Chase really have little to whine about.

Dimon fleeced the stockholders of Bear Stearns for about $8.50 per share for a stock that not long before that had traded...at $172.

Initially, Dimon offered just $2!!! per share... insulting his future employees and stock holders.

(Full disclosure...my IRA account held only BSC stock...with all dividends re-invested... from 1985 until it was virtually wiped out by Paulson, Bernanke, Geithner and Dimond's in 2008 St. Pat's Day deal... rewarding Morgan for taking over SOME of BSC's assets and liabilities. That account now holds token of JPM stock. )http://www.huffingtonpost.com/raymond-j-learsy/is-jp-morgan-a-bank-or-a_b_212971.html