You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Bankster Dimon Rewriting History at Davos: "We didn't need bailout" [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
rfranklin Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 07:20 AM
Original message
Bankster Dimon Rewriting History at Davos: "We didn't need bailout"
Advertisements [?]
Jan. 27, 2011, 5:27 a.m. EST

Dimon: Dont lump all banks together
Not all banks would have failed without bailout, he says

By William L. Watts, MarketWatch
DAVOS, Switzerland (MarketWatch) Its not fair to lump all banks together when parceling out blame for the financial crisis, J.P. Morgan Chase & Co. Chief Executive James Dimon said Thursday.

In a panel discussion on the ability of the financial system to withstand future shocks at the World Economic Forums annual meeting, Dimon said the widespread notion that all banks would have failed had governments not provided massive bailouts and backstops was incorrect.

Not all banks needed TARP . Not all banks would have failed, Dimon said.

Some banks, he said, acted to help stabilize the financial system, through actions such as J.P. Morgans (NYSE:JPM) purchase of Bear Stearns.

The constant refrain of bankers, bankers, is unfair, he said.

--more whining at link--

Printer Friendly | Permalink |  | Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC