Simon Johnson Rips Into Jamie Dimon's Conflicts of Interest

More
Pressure mounts on JP Morgan's CEO to step down from the New York Federal Reserve. 

AP120613130752.jpg
Notes from the Aspen Ideas Festival -- See full coverage
Former International Monetary Fund chief economist Simon Johnson ramped up his quest to oust JP Morgan CEO Jamie Dimon from the board of the New York Federal Reserve Saturday, taking his campaign to the political elite at the Aspen Ideas Festival in Colorado. Dimon's position on the board has come under fire in recent weeks, raising somewhat glaring conflict of interest issues given that the New York Fed is tasked with investigating the $2 billion in trading losses that occurred at Dimon's bank. Watch Johnson, an MIT professor, make his case:

The point organization on investigating these losses and understanding what's going on ... is the New York Fed. Mr. Dimon is on the board of directors of the New York Fed. Is there anyone in the room who runs a corporation, who runs a non-profit, who runs any kind of organization with a board who would be comfortable with this situation? He should step down ... He should absolutely step down from this situation. It undermines the legitimacy and integrity of the Federal Reserve system. 




Jump to comments
Presented by

John Hudson

John Hudson is a writer living in Washington, D.C. He is a former staff writer for Radio GIPA in Tbilisi, Georgia.
Get Today's Top Stories in Your Inbox (preview)

What Is the Greatest Story Ever Told?

A panel of storytellers share their favorite tales, from the Bible to Charlotte's Web.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

The Death of Film

You'll never hear the whirring sound of a projector again.

Video

How to Hunt With Poison Darts

A Borneo hunter explains one of his tribe's oldest customs: the art of the blowpipe

Video

A Delightful, Pixar-Inspired Cartoon

An action figure and his reluctant sidekick trek across a kitchen in search of treasure.

Video

I Am an Undocumented Immigrant

"I look like a typical young American."

Video

Why Did I Study Physics?

Using hand-drawn cartoons to explain an academic passion

Writers

Up
Down

More in Business

Just In