Like we mentioned two seconds ago, Charlie Gasparino is convinced that JPMorgan CEO Jamie Dimon "is set for a fall." While we're sure CG could sniff out and break a story based on gut instinct alone, he also gets his info from top notch sources (as you'll recall it was Gasparino who broke the Merrill defecation story last year), who keep him well-informed. So we want to know, who the hell is this:
When I asked one Wall Street CEO to assess Dimon's performance he pointed to the nearly 40 percent drop in JP Morgan shares since the beginning of the fourth quarter. This executive believes JP Morgan will now join other banks and experience problems beyond the fourth quarter and well into next year as credit card debt, student loans, and other debt on the bank's balance sheet begin to falter. "The market is telling you something is wrong," the executive said. "The stock market is saying one thing, and his image in the press is saying something else."
Taking into account that "Wall Street CEO" is a relative term, and that they've probably caused paths during the course of CG's research for the forthcoming, When Mooks Fail, we're going to go with Big Daddy Cayne. At a distant second we've got Dollar Dominatrix Meredith Whitney, because, a) as previously stated, "WSCEO" is hard to define and b) MW is likely still pissed about the fact that Dimon did not spare her his special brand of "ball busting" on that October conference call. But let's be democratic about this. So:
Posted by mj, Jan 05, 2009 10:11AM
If Dimon is someone who runs an umbrella banks and is respected by his underlings, understands risk management and the balance sheet, holds departments accountable, and manages the business tightly so as to not let things get out of control, then wouldn't the jealous little shit talking to Chaz be someone who runs an umbrella bank but is none of those other things. Or maybe Vikram's motivation was simpler, like: "Jamie gets a feature interview with Erin Burnett in the Waldorf ,and here I get Gasparino telling me we have to go dutch on lunch at San Pietro! Motherfucker!"