JPMorgan CEO Jamie Dimon Under Attack
Friday, May 10, 2013
Jamie Dimon, CEO and chairman of the nation's largest bank JPMorgan Chase, is facing criticism from prominent shareholders that could cost him his chairmanship.
Dimon has been called the "Last Man Standing" because he made it through the 2008 financial crisis with his reputation intact, but in a turn of events that verges on schadenfreude, he's under attack.
This week on Money Talking, regular contributors Joe Nocera of the New York Times and Rana Foroohar of Time magazine discuss how JPMorgan's $6 billion "London Whale" trading debacle, multiple federal investigations of the bank's business practices and Dimon's own unapologetic demeanor are raising the hackles of some of JPMorgan's biggest backers.
Looking ahead, Nocera talks about the news that Jeffrey Skilling, the former president of Enron, was able to get 10 years cut from his sentence, meaning he'll be getting out of jail in 2017.
Foroohar talks about the Dow's record highs.