This is one of those moments where you laugh out loud or start ripping your hair out. When it comes to money management and Wall Street, chances are someone talking about it these days is setting up a joke, not for actually trusting your money to the crooks that dwell below Chambers St. So when JP Morgan Chase's Jamie Dimon opened his mouth to lend his "expertise" concerning Obama's homeowner plan, I wasn't sure whether to chuckle at the joke or kick him in the face for his sincerity.
From The Huffington Post:
"I don't think just because someone's underwater they say I don't have to stay there. But they're supposed to pay the mortgage, and we should teach the American people, you're supposed to meet your obligations, not run from them. Because you have a mortgage doesn't mean you should run away as it goes down."
Click here for the video.
Oh yeah, this is the same guy that took $25 billion in TARP money for his company that had mismanaged their own funds and helped contribute to the economic meltdown we've been experiencing. Dimon is in charge of a failed lending enterprise that made risky bets with no regard to their fiscal solvency and that of their many clients. He is one of the absolute last people to talk about fiscal discipline of any sort.
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