Here’s one review of JPMorgan Chase & Co. CEO Jamie Dimon’s appearance on Capitol Hill.
From a former fellow banker in the Obama administration:
Dimon“did very well” in his appearance on Capitol Hill this week, says an administration official who competed against Dimon on Wall Street.
“He walked that balance between being contrite and taking responsibility and also pushing back where he needed to,” said Deputy Secretary of State Thomas Nides, who was Morgan Stanley’s chief operating officer until he joined the Obama administration in 2010.
In a Bloomberg Television interview, Nides said Dimon deserves credit for taking responsibility for more than $2 billion in losses incurred by a London-based unit that invested in derivatives.
“I think he’s a very, very strong executive, he’s run a very good institution,” said Nides. “He’s a hard competitor in my old life. He certainly is a tough competitor.”
In the interview, Nides also spoke about efforts the State Department has been making to help business. That includes economic talks at the G-20 meeting next week in Mexico, of course, but also efforts to lure tourists. The waiting time for a U.S. visa from Brazil has been reduced from 140 days to just four, he said.
Where do those Brazilians go?
“Florida,” he said. “I guess Disneyland is a very important place.”
That’s Walt Disney World outside of Orlando. Disneyland is California.