Tuesday, July 13, 2010

Jamie Dimon: Quote for July 13, 2010

I don't think just because someone's underwater they say I don't have to stay there. But they're supposed to pay the mortgage, and we should teach the American people, you're supposed to meet your obligations, not run from them. Because you have a mortgage doesn't mean you should run away as it goes down.
Jamie Dimon is the CEO of Chase, whose bank received $25 billion in government bailout funds in 2009.

Because you make $11 million, it's easy for you to criticize Working Class Americans and their mortgages. When your financial plans fail, you run to the government to save you. Where can ordinary individuals go to, to save them?

I think banks like Chase, led by people like Mr. Dimon, are the precursors of humanity's next dark age.
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