Daily Archives: June 19, 2012

By William K. Black

Jamie Dimon is the smartest U.S. banker – as he, the Senate banking committee, the media, and President Obama told us.  They told us this in the context of Dimon’s bank, JPMorgan, suffering a huge loss due to (if Dimon is to be believed) his top lieutenants’ stupidity.  We are told that Dimon is the smartest banker because he ordered JPMorgan to sell its collateralized debt obligations (CDOs) (“green slime” “backed” primarily by endemically fraudulent “liar’s” loans) at the end of 2006 and close its special investment vehicle (SIV). Continue reading →