Dimon's "Dear Timmy"
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Posted 02 June 2009 - 12:04 AM
“Dear Timmy, we are happy to be able to pay back the $25 billion you lent us,” Dimon read yesterday from a mock letter to U.S. Treasury Secretary Timothy Geithner at the 31st Annual NYU International Hospitality Industry Investment Conference. “We hope you enjoyed the experience as much as we did.”
So here we have the 'new' and taunting face of state capitalism in America.
Posted 02 June 2009 - 12:26 AM
Dimon said on the call that repaying the U.S. should lift the bank from under government restrictions. He didn’t know how the firm would resolve the warrants sold to Treasury, and said he hoped to settle them “sooner rather than later.” The U.S. should cancel 50 percent “out of fairness,” Dimon said.
Uh-huh. Fairness. Yeah that's the word.
And Dimon would do well to wait until that equity offering has gone off successfully before he starts mocking the administration publicly. In fact, he would do well to wait a lot longer than that.
Posted 02 June 2009 - 08:11 AM
Giving back the AIG theft money also. I'd hang the bastard.
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