Wall Street’s reality-distortion field is nothing if not internally consistent. Earlier today, I discussed Goldman Sach’s feelings about being left out of the regulatory process:
From the Wall Street Journal:
Resentments against the White House began, said senior Goldman executives, because the firm thought it would be consulted when the Obama administration began crafting regulations in response to the financial crisis. They weren’t.
After publishing that post, I finally found the time to read William Cohan and Bethany Mclean’s epic profile of JPMorgan Chase CEO Jamie Dimon. The language describing his bruised ego is spookily similar:
At President Obama’s inauguration, Dimon said to Obama and to Treasury Secretary Tim Geithner, “Tell me what you need. I’ll send people down here. I’ll do anything,” says one D.C. hand. “Jamie walked into 2009 with the view that he was on the team.” He wasn’t.
lol. But, cheer up Jamie. Bernie Madoff wasn’t asked either nor asked to write the rules.