Thursday, February 28, 2013

Bankster: 'That's why I'm richer than you'

Bailed-out bank CEO Jamie Dimon actually bragged that he's richer than an investor analyst -- to his face.

During an investor conference for JP Morgan Chase earlier this week, Dimon said, "That's why I'm richer than you."

Stay classy, Jamie.

Here's the transcript if you can't watch the video.
Mike Mayo, an analyst at CLSA, asked if JPMorgan Chase wasn’t at a competitive disadvantage compared to banks with more money in reserve. 
Mayo: I think what I hear UBS saying in the presentation is that if I’m an affluent customer I’ll feel a lot better going to UBS if they have 13.5 (percent) capital ratio than another big bank with a 10 percent ratio. Do you agree with that? 
Dimon: You would go to UBS and not JPMorgan? 
Mayo: I didn’t say that. That’s their argument. 
Dimon: That’s why I’m richer than you.

The real reason Jamie Dimon is richer than we are? Because taxpayers bailed him out.  And because we're still bailing him out.

What a swine.