Fire Dimon: Amar Bhide

June 17th, 2012
in econ_news

Econintersect: Prof. Amar Bhide (pictured) of Tufts University appeared on Bloomberg Television this week and called for the removal of Jamie Dimon from his position amar-bhide-SMALLas CEO of JP Morgan Chase (NYSE:JPM).  Bhide says that the the losses experienced and the management transgressions by JP Morgan are greater than have gotten other CEOs canned.  The two Bloomberg interviewers seemed a little lost at times regarding how to interact with Bhide.  At one point, while one interviewer was essentially making the point (although he was phrasing it as a question) that what happened at JP Morgan was simple a bank doing what banks do, the other interviewer was nodding affirmatively with a kind of "gotcha" smile.

Follow up:

Bhide quickly responded with specific examples of why JP Morgan was not doing what banks are supposed to do with reserves.  The smirking interviewer changed her expression and interupted Bhide to shift the subject with an unrelated question.

Watch the interview.  Be prepared for a rough start (and some other rough patches along the way).  Bhide is interupted after five words of his second sentence.

Amar Bhide has been a guest contibutor to Global Economic Intersection.

John Lounsbury

Hat tip to Naked Capitalism.









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1 comment

  1. DrBernard says :

    Amar Bihde kept his cool, obviously amazed at the equivalent of a "kangaroo court" proceeding to which he was being subjected.

    Why the snide comments by viewers here and there about the reactions clearly expressed on his "undefended face?" The "undefended face" is W.H. Auden's phrase in a poem, a face so RARE that Auden calls attention to its existence. The faces we see everywhere today are "defended"--encased in steel armor--in order to hide the lying mind working behind it. Congratulations to Prof. Bihde, whose courage and candor are revealed in his labile countenance, even as he is being subjected to "grilling" by rude, ignorant shills.





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