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Robert Trigaux

Why govern to lowest common denominator?



Never let it be said that the head of JPMorgan Chase does not have an opinion on how the government operates. Jamie Dimon, JPMorgan Chase CEO, on Tuesday railed against America's political leadership — but didn't name names — saying government too often proposes solutions that appeal only to "the madness of the crowd" while letting complex issues such as energy policy go unresolved. Here's the AP story about his remarks to more than 1,000 business leaders at a "Global Business Summit" celebrating Harvard Business School's 100th anniversary. This is the same New York bank (which just bought the failed Washington Mutual) that on the same day is one of the nine big banks to be picked to receive federal injections of bailout funds to help spur easier lending.

Dimon singled out energy policy and the U.S. dependence on foreign oil as problems that politicians have been unwilling to tackle in any comprehensive way since an oil shortage shook the nation in 1974.

"That train is going to hit us again," Dimon said. "We are unable to make the decisions to make this country healthy."

Kudos to Dimon. He's touching the third rail -- where are our nation's leaders in times of need? -- that never gets enough attention.

-- Robert Trigaux, Times Business Columnist

[Last modified: Tuesday, June 1, 2010 11:22am]


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