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Saturday, July 2, 2011

This apparently isn't a joke

Possible replacements to be President Barack Obama’s top economic adviser, according to a senior administration official, include Erskine Bowles, White House chief of staff under President Bill Clinton, and Roger Altman, a prominent investment banker and former deputy Treasury secretary.

Jamie Dimon, chief executive of JPMorgan Chase, is considered a strong dark-horse candidate.Dimon has said he is not interested in public office but many on Wall Street believe he would accept the job if asked by Obama. But the White House will have to decide whether Dimon, who leads the most successful bank in the U.S., is too closely aligned with Wall Street.

WTF. The revolving door between the Treasury and Wall Street is one of the reasons the economy is still fucked and will be for a long long time.

While Dimon does occasionally redeem himself, mainly in coming out in support of Elizabeth Warren and the Consumer Financial Protection Bureau he still whines and carps about financial reform at every opportunity.

He claimed financial reform is stalling the economy from Robert Reich.

Simon Johnson called him the most dangerous man in America.

Thelast thing we need is another Wall Street banker running the Treasury. Dimon is smart and capable which makes him,as Johnson says, far too dangerous to steer the economy right now.

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