Jamie Dimon: To Fix Housing, Everyone Should Get in a Room and Decide to Do My Bidding

Dimon: To Fix Housing, Everyone Should Get in a Room and Decide to Do My Bidding

Jamie Dimon has a big plan to fix the housing market. It mirrors John McCain’s big plan to fix Iraq: get people in a room and yell “Stop the bullshit!”

“I would convene all the people involved in the business, I would close the door, I’d stay there until we resolved a bunch of these issues so we could have a more healthy mortgage market,” the 55-year-old chief executive officer of JPMorgan Chase & Co. said today.

The patchwork of U.S. and international regulatory policies governing the housing and mortgage markets are hampering recovery here and abroad, Dimon said on a conference call with analysts after the New York-based bank released fourth-quarter earnings. In the U.S., state foreclosure laws conflict with a variety of federal policies on refinancing or modifying loans to troubled borrowers, Dimon said.

Leadership is needed to overhaul the industry, including reviving the market for private-label residential mortgage bonds and reforming regulations governing mortgage repurchases and foreclosures, he said.

“You could fix all this if someone was in charge,” Dimon said, tapping on the table for emphasis. “No one is in charge.”

When Dimon says “no one is in charge,” he really means that nobody has been able to intimidate those few Attorneys General and other regulators who actually take their job description seriously. If only they would fall in line, the problem could get “solved.” And by solved, Dimon means he could throw a few dollars to (insufficiently) compensate victims of what he would call irregularities, and keep doing what he wants. Dimon really has a problem with federalism, and a far bigger problem with the rule of law.

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10 Responses to “Jamie Dimon: To Fix Housing, Everyone Should Get in a Room and Decide to Do My Bidding”
  1. dRp says:

    You can put me in a room with him.

  2. gregory says:

    The litigation must be starting to Hurt that wittle banks bottom wine so be it. While jamie dimon brings america and europe to it knees I see europe looking for a tall tree for him first.To bad America government can’t see through the smoke and mirrors he projects.

  3. PJ says:

    You’ve got to be kidding me — What does he do all day to get paid that kind of money? DAH! — May I please have the job? Thank You!

  4. lvent says:

    You cant modify a loan you never gave..!

  5. Beth A. says:

    Jamie likely felt he had to say something…afterall — the investors on the line during the conference call were no doubt reeling a touch after those returns came in.

    If only they would crash and burn – and Jamie would go down w/that shit…I”m sorry, I mean shiP. Uh, okay, no I didn’t.

  6. Mary says:

    on the side of the investors my ass!!!!!!

  7. Mary says:

    Oh no… Now they want to make deals by writing down mortgages and cashing in on FUTURE sales from the homeowners. They don’t even own these homes! WTH! Check out CNN article today on the ipad app.

  8. readdocs says:

    He’s talking bs loudly as a distraction from his own legally questionable actions.

  9. lvent says:

    What a nazi….! Jamie Diamond is a psychopath and he is a traitor to America…..! Where are the cuffs? Send him to gitmo..!

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