The Morning Rant: Minimalist Edition

There is an arrogance among many titans of industry that is grating. Just because someone is a fantastic bank CEO or wonderful at running an airline does not mean that those skills and qualities extend into politics or, for that matter, absolutely anything else!

Far too often when these people speak about other topics they beclown themselves, and injure their companies. Just look at the rush to embrace DEI that consumed many of the largest corporations in America. They implemented it, it bit them in the ass, and many are now running away from the policies that they proudly proclaimed would propel their companies into the modern era.

That is the conceit of power...that the skills that propelled these people into positions of influence in a particular field can be extrapolated to other things...and they are wrong.

JPMorgan CEO Jamie Dimon quietly reveals whether he is backing Donald Trump or Kamala Harris

PMorgan Chase CEO Jamie Dimon has privately backed Vice President Kamala Harris for president, a New York Times investigation has revealed.

Until now, the chief executive has remained quite about his stance because he was reported to be afraid Donald Trump would retaliate against people and companies.

During an appearance at the World Economic Forum in Davos in January, Dimon faced backlash after he said Trump had been ‘kind of right’ about some economic issues, such as tax cuts.

The New York Times reported that Dimon tried to defend his statement by saying it reflected his respect for Americans who voted for the former president.

He was later forced to publicly deny that he had endorsed Trump.

‘I’m not endorsing anyone at this time. I spend more of my time on policy. What’s the policy we need that can really help both the world, foreign policy, and domestically?’, Dimon said via a spokesperson at the time.

Dimon also reprotley[sic] told his associates that he considers Trump’s 2020 election denialism close to a disqualifying factor.

And does he really believe that a Harris administration would be good for America? The Green New Deal, which she enthusiastically supported, would be an economy-crushing policy. Runaway government spending would drive inflation, a foreign policy that favors brutal dictatorships like Iran would destabilize the world, and a continued open border at home would be the death knell of America's economic superiority.

But Trump said pussy, so Harris must be better.

Jamie Dimon needs to shut up and run his bank, and stop worrying about hypotheticals that are vanishingly possible. In fact, a Harris administration would do far more damage to JP Morgan than any petty punishment that Trump might (but probably won't) enact. Just think about Elizabeth Warren and Bernie Sanders leading the government's bank regulation policies!

Oh...don't forget about taxing unrealized capital gains! That would crush the banks, but Dimon carefully ignores stuff like that.

These people need to stay in their lanes and do the jobs they were hired to do.

[Crossposted at CutJibNewsletter]

posted by CBD at 11:00 AM

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