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No majic formula for CEO's

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Dec 18, 2009 10:27 pm

[quote=Squash1] Are you guys even aware of what he did…?



He got fired from Citi because he refused to promote Sandy’s daughter… He then left and found some idiotic bank, Bank One, that was run poorly for years, yet dominated their markets because they had been there so long. He came in and cleaned house. Then he orchestrated the JPM /Bank One merger… And basically kicked out all of the JPM guys in the first couple years and replace them with his team…



You can call it luck, but luck is actually just the efforts of hard work.



And yes he is intense…[/quote]



I agree with you 100%, he did a fantastic job building the business. BUT he is LUCKY. If not for the problems he had integrating the difference systems and cultures he would have been much further along building his lending arm, or his weak point as he called it two years ago. That would have put JPM right in the same boat as all of the other major banks who went bust (and yes, anyone who took 20,30, 50 billion in money to stay afloat actually went bust in my view).



As I said I never discredited his ability as a good CEO, but king of the banking universe? Only because of luck…
Dec 19, 2009 1:13 pm

jamie did one thing that seems pretty damn obvious in hindsight.

He managed risk.



He evaluated excess in subprime loans and did something about it.   period.



and they did have a book of biz in subprime. he began scaling back in late 2006



Counter that to say a Jimmy Caine.   Bear was getting a of revenue from subprme and he just kept piling on.



dude was playing cards when first hedgies blew.   I Promise you dimon never stopped worring about his shop

Dec 19, 2009 1:18 pm
DeBolt:

I thought he kicked ass in the congressional hearings.



the best

brilliant in any setting any issue

even with those asshloe congressmen dog and pony fools.

they shd get this guy to run treasury
Dec 19, 2009 1:25 pm

I remember reading an article about Dimon before the shat hit the fan. His quote was "I want a fortress balance sheet". He saw it coming and did something about it.

Dec 19, 2009 11:09 pm
no idea:

I remember reading an article about Dimon before the shat hit the fan. His quote was “I want a fortress balance sheet”. He saw it coming and did something about it.




yep

called senior management dude at like 1am on a Sunday.    
get rid of that shti