Jamie Dimon for Treasury Secretary?

Jamie Dimon has recently become vocal, calling on President Trump to concede and for Congress to stop its "childish behavior" with regard to stimulus negotiations. 

This made me wonder, do you think Jamie Dimon would be a good fit for treasury secretary? Is this at all feasible, or would appointing a Wall Street CEO to the position be bad for optics and potentially alienate millions of left-leaning people? 

Curious to hear others' thoughts! 

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Comments (54)

Nov 19, 2020 - 9:54am

Yes, he would be a decent choice, but appointing a Wall Street CEO would also be a bit of a non-starter with today's Democratic party. Biden probably would be fine with it, but the party is a big tent and he has to hold everyone from Bernie Sanders to Joe Manchin together. 

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Nov 19, 2020 - 5:07pm

Shhhh the adults are talking. Go play with your friends. 

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Nov 19, 2020 - 6:47pm

I mean, Dimon isn't necessarily the best person for the job (I don't think such a thing exists for prominent Cabinet positions), and the fact that the party wouldn't support that pick doesn't mean it's socialist. It sounds like it'll be Yellen from the rumors and she's definitley not a socialist's pick.

Nov 19, 2020 - 7:10pm

NoEquityResearch

Last week, you were arguing that the Democratic Party is not really socialist. Now, you're telling me that Biden can't pick the best person for the job because he might upset the powerful radical wing of the party....

Man, you really stretched a lot to try to make this point. In order:

  1. The Democratic Party is decisively not socialist. Hi. I'm a capitalist. I've also been a Democrat since 2018. 
  2. I think Jamie could do the job. I think he's a smart and obviously accomplished guy. That's a far stretch from the best candidate though. 
  3. The "radical wing of the party" is also not socialist. You can literally google the differences in political ideology between socialism and democratic socialism. 
  4. Every political party makes decisions based on compromise. Republican businessmen compromised with evangelicals and uneducated racist conspiracy theorists to win the presidency in 2016, for instance. Compromise is politics.  

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Nov 19, 2020 - 10:09am

Analyst 1 in IB-M&A

Jamie Dimon has recently become vocal, calling on President Trump to concede and for Congress to stop its "childish behavior" with regard to stimulus negotiations. 

This made me wonder, do you think Jamie Dimon would be a good fit for treasury secretary? Is this at all feasible, or would appointing a Wall Street CEO to the position be bad for optics and potentially alienate millions of left-leaning people? 

Curious to hear others' thoughts! 

Not that he'd be bad, but I'm not sure he's the "best" choice either.  Running a private-sector business is not necessarily good training for running a government entity.

Nov 19, 2020 - 10:14am

Can you spell conflict of interest?  The irony is that he would probably alienate the far left Democrat base who would tear their hair out over his appointment, but the corporate Democrats ie Obama/Kamala/Joe would love him.  Just look at the cabinet list Joe's already put together, it's just like Obama's, all big corporate names. 

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Nov 19, 2020 - 10:25am

PrivateTechquitycorporate Democrats 

Is this supposed to mean something other than what rose twitter calls everyone who isn't Bernie Sanders? 

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Nov 19, 2020 - 10:33am

CRE

PrivateTechquitycorporate Democrats 

Is this supposed to mean something other than what rose twitter calls everyone who isn't Bernie Sanders? 

If you can't grasp the idea that there is a clear delineation between factions of ultra-progressives, moderates, and corporatists within the Democrat party you're observation skills are woefully subpar.  Try turning on a political commentator that isn't spoon-fed by one of the major networks for a change.  The same thing exists within the Republican party between hardcore evangelists, old school corporate conservatism, and neoconservatism.  Granted just because the separation exists doesn't mean they don't coalesce when it gets down to party vs party, but there's plenty of infighting in both groups between factions jockeying for position in local elections and national election primaries.  

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Nov 19, 2020 - 10:41am

Hah, touchy touchy. Of course there are factions within the Democratic party - I said as much in my first post in this thread and alluded to it in the thread you responded to. Perhaps you should focus more on reading comprehension as opposed to what you think others are incapable of grasping. 

What I clearly objected to was the term "corporate Democrat," because it implies that the mainstream (and more successful) members of the party are somehow beholden to corporate interests, as opposed to the "pure" progressives. It's like calling a specific faction of the Republican party RINOs. It is not a widely used term. It is instead meant to be derogatory. 

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Nov 19, 2020 - 10:46am

CRE

Hah, touchy touchy. Of course there are factions within the Democratic party - I said as much above in my own post. 

What I clearly objected to was the term "corporate Democrat," because it implies that the mainstream (and more successful) members of the party are somehow beholden to corporate interests, as opposed to the "pure" progressives. It's like calling a specific faction of the Republican party RINOs. It is not a widely used term. It is instead meant to be derogatory. 

No, I wouldn't say it's always meant to be derogatory, it's just a qualifier to segregate factions.  But the ultra-progressive populists like the Bernie bros certainly see it as a negative and will bemoan it till the cows come home.  The idea that certain mainstream Dems aren't beholden to corporate interests is just laughable.  Wikileaks already showed us that Obama literally got his cabinet picks from an email with executives at major banks.  Both parties have candidates that do this, it isn't new. 

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Nov 19, 2020 - 6:53pm

The black trans lives crap feels like a 4chan hoax or troll-gone-wrong a la the "ok sign" being racist-- Like someone was trying to sarcastically tag extra wokeness onto BLM to highlight woke absurdity and then it sprung into a movement of its own. I refuse to accept that the black trans lives matter movement is organic. Also, why don't black chicano non-binary disabled lives matter? Or is that up next?

Nov 20, 2020 - 9:15am

Oh god Wokeahontas is beatiful. Can't wait to use this term on my insufferable progressive friends that pray to Bernie, Warren, AOC etc...

Nov 19, 2020 - 4:50pm

I like Elizabeth Warren but she should not be the Treasury Secretary.  

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Nov 19, 2020 - 11:24am

Heard this as well and I think she'd be a great choice

I’m a fun guy. Obviously I love the game of basketball. I mean there’s more questions you have to ask me in order for me to tell you about myself. I'm not just gonna give you a whole spill... I mean, I don't even know where you're sitting at

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Nov 19, 2020 - 4:52pm

I agree.   She makes sense and would be a big improvement over Mnuchin.  

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Nov 19, 2020 - 5:22pm

She is super smart, self made and was the chair of the Fed.  Mnuchin is not nearly as intelligent and is probably not self made.

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Nov 19, 2020 - 8:09pm

It is just a good characteristic to have.   Her other credentials speak for themselves, though

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Nov 19, 2020 - 10:55am

Analyst 1 in IB-M&A

Is this at all feasible, or would appointing a Wall Street CEO to the position be bad for optics and potentially alienate millions of left-leaning people? 

Yes, unfortunately, good policy decisions often have a tendency of alienating millions of left-leaning people. If you look at recent the history of US Treasury Secretaries, a bunch are straight from Wall Street. Appointing Jamie Dimon would hardly be an outlier. 

Nov 19, 2020 - 1:43pm

Dimon is an experienced deal maker and would do wonders as Treaury Secretary but honestly why would he want the job? At JPM, he runs the show and gets to accumulate his wealth unopposed. As Treasury Secretary, he would have to incessantly battle with Congress and The White House to enforce his ideology. Roger Ferguson and Janet Yellen are better fits honestly. Just pray it's not Warren or Sanders as Secretary or else we're all fucked. 

Nov 19, 2020 - 1:46pm

I like Jamie Dimon and saw him speak a long time ago.   Wow, if I had a dollar for each F bomb that came out of his mouth, I would be super wealthy.   I am not opposed to Jamie Dimon as Treasury Secretary but I would prefer someone like Janet Yellin.  

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Nov 19, 2020 - 8:10pm

NoEquityResearch

Check your priviledge! Can you suggest someone who is not white and cisgender? Jeez financeabc 

I do not understand your point.  

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Nov 19, 2020 - 7:36pm

I'd like to have him as the POTUS. Guy's gonna tell both smooth brained Democrats and Republicans to STFU.

Looking at you Mr. Sherrod Brown "Black and Brown people are being treated badly" & Mrs. Martha McSally "idk the difference btw asset managers and  investment banks".

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