Monday, November 23, 2009

The Bell Tolls For Tim Geithner...

The NY Times is reporting that Jamie Dimon, CEO of JP Morgan, is being touted behind the scenes as a possible successor to Tim Geithner.  The NY Post also had the story.  The fact that this story has surfaced like this suggests that the end is near for Tiny-Brain Tim:
Mr. Dimon “would love to serve his country,” the newspaper quoted people familiar with his thinking as's the link:  NY Times: Geithner May Be Done
If Obama really wants to clean up the mess in the financial sector, he would find a replacement that has absolutely no economic ties to Wall Street or the Fed.  Since the primary purpose of the Treasury Department is to oversee the collection of tax revenues, the disbursement of those revenues and managing the liability side of the Government's balance sheet (i.e. issuing debt to finance the Government), perhaps someone with a solid background in accounting and bread and butter banking operations would be a good choice.  Since regional banks are the backbone of small business lending, and small business growth is the backbone of job growth and econmic stability, perhaps a solid candidate might be the CEO/CFO of a successful regional bank.

The problem with Jamie Dimon is that he would be nothing more than a retread of Stuttering Henry Paulson  - albeit a version of Paulson less the stuttering speech impediments.  Recall that Paulson is the person who essentially hijacked $700 billion from the Taxpayers and shuffled a large portion of that money thru AIG to Goldman Sachs, JP Morgan and others.  How can we possibly expect Jamie Dimon to act differently that Paulson did, which would be for him to act in the interests of the American Public and not the corrupt Wall Street Community?

This just in from a loyal reader:  The overall strategy needs to be to avoid Wall St and anyone who may be connected to that avenue. The Treasury needs to be about protecting the taxpayers $ - Wall St is inherently set up to abscond with it.

My response:  Putting Dimon in there would be nothing more than replacing a barking chihuahua with Godzilla dressed up as Florence Nightingale.


  1. No change whatsoever should be expected with the installation of Dimon. He's merely the head of the other firm in the bankster crime syndicate's demonic duo. Tim is clearly earmarked for fall guy status and his may be a nastier fall than one might imagine since Tungsten Tim has quite a bit of dirt squirreled away in his tiny, little cranium.

  2. No doubt it would be worse if Dimon were put in there. Geithner has proven to be completely incompetent as a polical operative.

    Putting Dimon in there would be nothing more than replacing a barking chihuahua with Godzilla dressed up as Florence Nightingale

  3. I kind of like (please note sarcasm) when Timmy said on Capitol Hill the other day that by any measurement we are in a recovery.

    Let's see--increasing unemployment, increasing govt debt and bankrupt states and munis is now a leading indicating sign of recovery?

    I missed that class too.

    Got gold?

  4. I thought this story was a joke, but it is for real. I just cannot see anything changing just by switching around the same players.

  5. gyc, it's more about turning a political hack into a sacrificial lamb, and replacing it with a polished operator. Geithner is nothing more that Robert Rubin/Goldman Sach's worn out dirty dish rag. Dimon is the "mini-me" of the ultimate Wall Street Mafia don, Sandy Weill. This also buys some breathing room for Obama.

  6. Ah, the next looter to be rewarded with a Tax-Free cash out of his ill recieved gains. Ain't that some shit?

  7. Dave,

    Check it out...the smart BIG money has been moving in. No surprise to us, but to Joe Public this is a huge article and may begin to ignite gold fever in the masses:;_ylt=AoVp1Fhp.qhgtT7I9bX51SYvBa1_;_ylu=X3oDMTBvaWY1ZjBqBHBvcwMxMwRzZWMDYXJ0aWNsZQRzbGsDMQ--?mod=retire-planning

  8. Jamie Dimon is a pretty smart guy. I like the fact that he told Congress to shove it. He has never been a team player so much as a "do what's right" kind of guy. You have to look at his career to really understand that. Jamie Dimon may be one of the few people that could actually do the job, assuming Obama lets him. More likely, he takes his tax free profits from liquidating his portfolio and quits in a year. He does not tolerate fools well and the Obama Gang is full of them.