Home » Behavioural Investing » Jamie Dimon Imitates James Cagney $JPM $XLF “Why You Dirty Rat”

Jamie Dimon Imitates James Cagney $JPM $XLF “Why You Dirty Rat”

Jamie Dimon Chair and CEO of JP Morgan (NYSE:JPM) is beginning to resemble James Cagney in some of his film roles as an unyielding, unrepentent, tough guy who was not going to take anything from any body. You see? BTW I think Cagney robbed some banks as well.

Just to summarize some of the points which have not influenced Jamie Dimon

  1. London Whale debacle destroying shareholder wealth
  2. Publicly arguing with Governors of Central Banks
  3. Falling out of the running to be Secretary of Treasury under President Obama
  4. Trying to get cozy with the GOP to get the same possible job back
  5. Two major proxy solicitation services recommending Chair and CEO position be split.
  6. Public recommendations that certain independent board members not be re-elected.
  7. Independent board members meeting with third parties about some or all of the above.
  8. Federal Regulators saying they do not trust JP Morgan.
  9. Major institutional shareholders feeling very uneasy about it all. Thats not a vote of confidence.
  10. Warren Buffett making public statements of support indicate Jamie Dimon does not have the support you would think he should have as the Chairman/CEO

Regardless of where you stand on this issue; because it has become an issue of the tar baby variety it will not go away in a satisfactory fashion. It is a huge distraction.

If there is a final shoot out of the James Cagney fashion shareholder wealth will be destroyed. Who then will be the “Dirty Rat”

George Gutowski writes from a caveat emptor persepctive.