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JPMorgan Chase CEO Jamie Dimon on his relationship with the White House and his thoughts on the Occupy Wall Street movement.
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Charlie -- print just attack and credit trading in -- -- predicting that yet quiet I had just gotten person and I haven't seen a blow up on the south Atlantic Charlie -- -- just took the CEO of JPMorgan Jamie Dimon of what's -- all about it.
My my hair as a lot less -- -- there.
And -- I knew Jamie I've -- -- way back which and I remember I was working at the Wall Street Journal this is in the mid 191995.
-- used to come in with sandy Weill his boss at the time.
And you know I've seen the ups and downs -- this -- was eventually fired from from.
Citigroup at the time.
You know was he has sort of had the last lap on I was -- -- -- but now we as you know he's at the top of the he's recently V number one Bank of America running the most successful most profitable bank JPMorgan Chase.
We set -- I sit down with the today from no holds barred he answered every question.
Get some idea what I was gonna ask them but you didn't answer the questions and he did -- took every single one of them.
And -- answer them and I'll tell you in this segment we talked about earlier some of the regulation that he was he's protesting regulation.
But I wanna talk a little bit about that it will would you -- him talk about now.
Is some of his relationships with the White House and what's wrong with the economic recovery here's what he at this.
I guess it's fair to say that he entered.
Part when most complex.
Economies -- and for while I think people did a very good job so market from a -- -- -- after that plunged last eighteen months.
Between congress Democrats Republicans regulators -- -- it's just been.
It hasn't been coordinated way that could lead to recovery for you could blame that on the president you complain that the Democrats and the Republicans -- personal care.
This -- got nothing do Democrats -- -- I believe your policy solutions and we don't have all the people in the room.
Working on would -- solutions are we have a sloppy was yelling at each other.
It was the least reported and that you had very good access to the president.
I've since been told that that was overdone I think -- -- way overdone overdone -- but you know that does seem to be cooling of the relationship between you and the White House months.
I guess they need to SES is specifically about the president and we get to -- congress next.
Do you think he has been effective it seems based on your rhetoric.
You don't think he's been affected by the economy for for whoever was in the white house Republican or Democrat I would work -- them take a call to try to help.
There's been no cool in in my part.
OK maybe and his -- you have to ask them so it's number one.
Number two is I think -- solution to elected we'd like the -- solutions -- -- I don't believe there's a lot of collaboration.
Right so we go through one of my complaints has been well I think he was covering more Democrats Republicans and practitioners that would be beneficial thing.
I don't blame that on just the president can I I kind of look at the whole picture and I -- wall.
So notes -- support from you say.
That was the one person who didn't compromise -- to a compromise but is it hard to compromise when he's calling you a fat cat I mean this that you and he's a very well -- financial crisis.
I think -- everybody would agree with that.
-- he is -- bankers like you -- with.
The bad guys so are you look I've disagreed -- from beginning of this.
You know -- -- blame of old things -- very -- I I don't like to I think it's just a form of discrimination that should be stopped.
It doesn't it doesn't lead to productive conversation not everything was equally bad.
But it was and -- actually had so I think it denigrates America aside I think it's bad idea what that's you know member politicians they get elected they say what they wanna say in.
I can't control that did you ever tell the White House your contacts in the White House that the class warfare rhetoric.
It's kind of I don't know not -- those words -- yes it is okay.
Speaking of class warfare I guess have to ask is what do you think about the Occupy Wall Street movement they got a lot of press attention.
I think a lot less attention was going to some of these some of the message that they had which was kind of -- cross purposes of what was going on.
What do you think about that I tried to.
I know it's hard for me say this but what are the ports actually -- -- key try to be politically I don't know that they'll -- they're -- for -- agree with an apparently don't from a very specific about.
It is fear the average American to say that the major institutions of America let me down that's true.
And his fair generically disabled that's predominately Wall Street and Washington.
I group that pork.
I think what you go beyond NC or politicians all banks -- fingers that's terrible.
I don't accept that I know I'll never win this argument for it's it's just not accurate not also played -- -- they're -- -- -- not all media that.
So I don't think that -- -- -- gonna get a second -- this become a less equitable society I don't think that's a good thing.
Nobody is becoming workable now because of the income couple it's coming down dramatically but.
But I think you have a conversation was what do you mean by how you can fix it so we look for solutions so we are a lot of people we tried 3000 veterans.
We've been healthy company -- -- 171000 people United States in the last like eighteen months or so our net.
That's so we're -- we're lending to small businesses -- mortgages -- corporations that we're trying to do to fix the problem so.
I understand the generic arguments put to me I'd prefer to look for real solutions I couldn't -- notices.
JPMorgan as one of Mitt Romney's largest contributors.
You were not much cannot JPMorgan it's capable employees executives -- more you were seen at a Romney fund -- why would not around the fund raiser.
I had a couple quote from Iran the I would have a healthy -- any candidate that's right do when someone wrote up a fund radio I was not OK so.
Just it's just it is it is somewhat odd -- odd put interest in.
That you what it did give your employees are one of the big fund -- are given a lot of money to -- as opposed to the president.
Is that it was it was a 180 from last time so he is because we told people you're carrying.
-- we think it's okay for a few of the involved in the political process.
So we have a bunch of people who supported Romney we have some -- support Obama.
And one point one ask if they wanna come talk to more people -- does -- fund raiser right.
For for any of the candidates are will be invite -- to the people -- -- to both sides.
So we want or -- actually engage in the political process we don't tell them what to do they just -- -- this year.
Which not surprising a lot of people here are gonna supporting Romney -- not a President Obama and you we will but we left people support President Obama to by the way.
Yup I'm sure you will you.
You generally don't take -- site publicly.
I don't I'm on the New York fed board and -- allowed to endorse or fund raised the people who know you said you were.
You basically supported Obama the face -- been a Democrat my whole life and -- -- barely Democrat could I think look I think the left side of the party is the destructive.
But I think the rockets that are thought -- be good if we destruct if I'm more kind of in the middle so would you support Romney candidate I've decided --
