Monday, November 23, 2009

Mr. President, Perception is Everything

Here's a piece of news that makes me wonder why the White House doesn't get it when it comes to appointing regulators of systems who have long ties to those same systems. Talent and experience of course are important, but not if they are used, or are even perceived to be used, to protect those same systems.

In this case it's about the Financial System's clear need for stronger regulation.

It's being rumored that Jamie Dimon, current CEO of J.P.Morgan Chase,
who has made vast sums of money on Wall Street and Banking is being considered a likely successor to Tim Geithner, who used to be the head of the NY Fed, should Geithner resign or be kicked out.

Whatever the talents and view points Dimon might have to make him seem appealing, the public perception would be all about more of the same; another insider of the good old elite boys club, likely to protect his buddies in the face of needed regulations. Geithner has been accused by some to have protected his buddies, perhaps the same group that Dimon would favor.

Why give the GOPhers even more ammunition.

Lighthouse Keeper


Anonymous said...


Sorry this is off topic, but this is a must see.

You may have heard this report on NPR’s Fresh Air. This story is all new to me.
It is about an American secretive society that smells like Fascism.

The interview is a good one and ought to be widely shared. In a way the story and
The players remind one of some fantastic and unbelievable screen play.

Old Dude

The Secret Political Reach Of 'The Family'

The Old New Englander said...

Good point. Although I don't see how the GOPhers can attack Dimon for what he has done--which is just what they would have people like him do. But there is something worse: Dimon and is minions have been engaged and are engaged in what is little more than theft. Why would we put people like that in the Cabinet. More appropriate to let them inspect the federal prison system. From the inside.

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