Wednesday, June 8, 2011
Jamie Dimon Takes on Bernanke
JPMorgan Chase & Company chairman and ceo Jamie Dimon confronted Federal Reserve Chairman Ben Bernanke today, asking him if he had considered the impact of all the regulations being proposed and how they might together negatively impact the availability of credit and the economy. The Chairman revealed that, in essence, regulators had examined proposed rules individually but not in the aggregate.
This is a rare public challenge from a banker to a top regulator.
In the second video Jeffrey Sonnenfeld, professor in the practice of management for the Yale School of Management talks about Dimon's challenge to Bernanke.