understanding Wall Street

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JPMorgan Chase CEO (and newly-minted billionaire) Jamie Dimon slammed Elizabeth Warren by wondering, "I don't know if she fully understands the global banking system:

In an April speech, Warren, a former professor, chided "finance guys" who assert she and others can't grasp their business.

"The finance guys argue that if you're never in the club, you can't understand it, but I think they have it backward," she said. "Not being in the club means not drinking the Kool-Aid." [...]

"The problem was never that I didn't understand what the finance guys were doing," she said in April. "The problem was that I understood exactly what the finance guys were doing. I knew it, and they knew it."

Billionaire Warren Buffett suggests, "She would do better if she was less angry and demonized less," but I think he really means that he would feel better.

They've felt far too good for far too long, and she knows it. That's the real reason for their animus.

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This page contains a single entry by cognitivedissident published on June 11, 2015 9:24 AM.

billionaires' baubles was the previous entry in this blog.

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