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How Appropriate: Jamie Dimon Reelected As New York Fed Director

Tyler Durden's picture




 

From the New York Fed. JPM's ETF boys celebrating by throwing market around any way they want.


NEW YORK—Jamie Dimon, chairman, president and chief executive officer of JPMorgan Chase, has been reelected a Class A director and Jeffrey B. Kindler,
chairman and chief executive officer of Pfizer, has been reelected a
Class B director of the Federal Reserve Bank of New York. Mr. Dimon has
been serving as a Class A director since January 2007 and Mr. Kindler
has been serving as a Class B director since October 2009. Mr. Dimon
and Mr. Kindler will be serving new three-year terms ending December
2012.

Mr. Dimon became JPMorgan Chase’s chairman of the board in
January 2007, following his appointment as chief executive officer on
January 2006. He also assumed the title of president upon the company’s
merger with Bank One Corporation in July 2004.

Mr. Dimon is a
director of The College Fund/UNCF and serves on the board of directors
of The National Center on Addiction and Substance Abuse, the University
of Chicago and Harvard Business School and is on the board of trustees
of New York University School of Medicine.

Mr. Dimon holds a bachelor’s degree from Tufts University and a master’s degree from Harvard Business School.

Mr.
Kindler has been Pfizer’s CEO and chairman since 2006. Prior to his
appointment, Mr. Kindler was vice chairman and general counsel. He
joined Pfizer in 2002 as executive vice president and general counsel
with responsibility for Pfizer’s legal division and was named vice
chairman in 2005.

Mr. Kindler serves on the board of trustees of
Tufts University and Ronald McDonald House Charities. He is a board
member of the Manhattan Theatre Club, Lincoln Center for the Performing
Arts and Catalyst.

Mr. Kindler received his bachelor’s degree
from Tufts University and juris doctor from Harvard University, where
he was an editor of the Harvard Law Review.

The board of
directors of the Federal Reserve Bank of New York consists of nine
members, three of whom are appointed by the Board of Governors of the
Federal Reserve Systems as class C directors. The remaining six (three
class A and three class B directors) are elected by member banks in the
Second Federal Reserve District. Class A directors are drawn from among
the banking community. Class B & C directors are individuals chosen
from professions outside the banking community and typically represent
business, industry, agriculture, labor and consumers.

 

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Fri, 02/05/2010 - 17:13 | 219710 Cistercian
Cistercian's picture

 And this is news that is just as welcome as hearing the doctor tell you " you don't have the flu.You have Ebola"

 Great.Just fabulous.

Fri, 02/05/2010 - 17:21 | 219712 Stevm30
Stevm30's picture

I can't wait until the day when the FED/Feds own the stock exchange.  Everyday, they'll tell us where they think the number should be (based on their superior insight).  In public pronouncements they will give lip service to free markets "Now, I wasn't elected President to own and control the stock exchange... (Cheshire cat grin, and "huh" chortle)! Ya' know, you give a bunch of politicans that power, and all they wanna do is keep pushing the market up!  That's why we recently ordered a decrease in the dow from 15,400 to 15,200.  Now see there!  So much for doing what's politically popular." Barack Obama June 7, 2012

Fri, 02/05/2010 - 17:18 | 219719 Internet Tough Guy
Internet Tough Guy's picture

A class A what?

Fri, 02/05/2010 - 17:23 | 219734 10044
10044's picture

PPT galore

Fri, 02/05/2010 - 17:24 | 219738 Hephasteus
Hephasteus's picture

As long as the fuckups are still in charge. We can sleep soundly.

Fri, 02/05/2010 - 17:24 | 219740 Hondo
Hondo's picture

I guess he had to ramp the market this afternoon to get the votes

Fri, 02/05/2010 - 17:28 | 219754 What_Me_Worry
What_Me_Worry's picture

He can enjoy this position before his next appointment as inmate #92532153

Fri, 02/05/2010 - 17:57 | 219760 ChickenTeriyakiBoy
ChickenTeriyakiBoy's picture

maybe the manufactured bottom was some kind of quid pro quo

Fri, 02/05/2010 - 17:58 | 219763 MarketTruth
MarketTruth's picture

JPM is a retail arm and a member/owner of the Federal Reserve. In other words, more now classic QUEASing and market manipulation. So JD being where he is makes perfect sense.

Know your enemy, see who owns the Federal Reserve at www.save-a-patriot.org/files/view/whofed.html

Know your enemy!
Now I got no patience
So sick of complacence
With the D the E the F the I the A the N the C the E
Mind of a revolutionary
So clear the lane
The finger to the land of the chains
What? The land of the free?
Whoever told you that is your enemy?

Know your enemy!
www.youtube.com/watch?v=0y-7fl1nJfw

Time has come to pay...
Know your enemy!

Come on!
Yes I know my enemies
They're the teachers who taught me to fight me
Compromise, conformity, assimilation, submission
Ignorance, hypocrisy, brutality, the elite
All of which are American dreams
All of which are American dreams
All of which are American dreams
All of which are American dreams
All of which are American dreams
All of which are American dreams
All of which are American dreams
All of which are American dreams

www.youtube.com/watch?v=KKhx5iPSR8Q
Anger is a gift.

Fri, 02/05/2010 - 18:02 | 219768 ChickenTeriyakiBoy
ChickenTeriyakiBoy's picture

i'm sure the financial system and political economy that zach de la rocha and and tom morello envisage would be vastly superior

 

...NOT!!!

 

i like their music, i hate the fed, but i suspect they are and have been pissed about the state of affairs in this country for very different reasons than me. i don't get down with marxist revolutionary fervor

Fri, 02/05/2010 - 18:52 | 219864 MarketTruth
MarketTruth's picture

What country ever existed a century and a half without a rebellion? And what country can preserve it's liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms. The remedy is to set them right as to facts, pardon and pacify them. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.

.

.

.

.

The above was said by Thomas Jefferson

Fri, 02/05/2010 - 18:09 | 219778 Anonymous
Anonymous's picture

His term will end in December, 2012? Tick off another one for the Mayans...

Sat, 02/06/2010 - 13:18 | 220470 Anonymous
Anonymous's picture

spit up my coffee over that one... made my day, ruined my monitor!

Fri, 02/05/2010 - 18:10 | 219782 doggis
doggis's picture
The rot and stench of flesh, the must and mold of bones and the tomb obscure, but do not deny, luminous, eternal truth and bright integrity within our time-bound precariousness.
Fri, 02/05/2010 - 19:03 | 219891 Anonymous
Anonymous's picture

Does Jamie have a quadruple conflict-of-interest?
During the NY FED bailout week-end sleep-over Sept 12-15, 2008, JPM was supposed to represent AIG because AIG had hired JPM.
At the same time, JPM was a counter-party to AIG.
At the same time, Jamie was a Director of the NY Fed that decided to bailout AIG counter-parties including JPM.
Then, JPM advised AIG on a global plan to sell more than a dozen AIG units, and then "stopped advising AIG on the global plan to sell more than a dozen units, because the job threatened to disqualify the bank from doing business with potential buyers for years."
http://www.bloomberg.com/apps/news?pid=20601087&sid=agjYZWRxynkU&refer=home
JPM counting bailout money as a profit.
http://lockstep-investing.blogspot.com/2009/03/jp-morgan-marking-bailout...

Fri, 02/05/2010 - 19:06 | 219895 tom a taxpayer
tom a taxpayer's picture

 

Does Jamie have a quadruple conflict-of-interest?

During the NY FED bailout week-end sleep-over Sept 12-15, 2008, JPM was supposed to represent AIG because AIG had hired JPM.

At the same time, JPM was a counter-party to AIG. 

At the same time, Jamie was a Director of the NY Fed that decided to bailout AIG counter-parties including JPM.

Then, JPM advised AIG on a global plan to sell more than a dozen AIG units, and then "stopped advising AIG on the global plan to sell more than a dozen units, because the job threatened to disqualify the bank from doing business with potential buyers for years."

http://www.bloomberg.com/apps/news?pid=20601087&sid=agjYZWRxynkU&refer=h...

JPM counting bailout money as a profit.

http://lockstep-investing.blogspot.com/2009/03/jp-morgan-marking-bailout...

 

Fri, 02/05/2010 - 19:10 | 219901 Stevm30
Stevm30's picture

Hey, this is JAMIE - HEL-LO!  He's such a stud, he can handle 4 different hats at the same time, and STILL not break a sweat. 

Fri, 02/05/2010 - 20:45 | 220000 Rainman
Rainman's picture

If dude gets one of those W.C. Fields rubber noses, he can strut his shit like old J. P. .........and  light novena candles before the Depression-era painting of His Holy Highness.

Fri, 02/05/2010 - 19:14 | 219907 Anonymous
Anonymous's picture

Jamie has only 1 interest. Jamie's.

Fri, 02/05/2010 - 19:25 | 219922 Anonymous
Anonymous's picture

Just shut it down. Shut It Down.

Fri, 02/05/2010 - 20:07 | 219964 Steroid
Steroid's picture

Dimon is a dud.

Kindler is the dangerous one. He delivers the cool aid. Just watch out!

Fri, 02/05/2010 - 20:18 | 219978 tom a taxpayer
tom a taxpayer's picture

 

Kindler "is a board member of the Manhattan Theatre Club". Makes sense...the NY Fed is off-Broadway Theatre of the Absurd.

 

Fri, 02/05/2010 - 23:48 | 220148 Anonymous
Anonymous's picture

Umm.. kinda like an 'inverse conflict of interest' ??? ... or something

Fri, 02/05/2010 - 23:51 | 220150 Anonymous
Anonymous's picture

MASSIVE PONZI from top to bottom----

WHO owns the FED??

And when will this criminal cabal be called out for what it is??

Sat, 02/06/2010 - 10:00 | 220349 MarketTruth
MarketTruth's picture

Who owns the Fed? Am glad you asked:

www.save-a-patriot.org/files/view/whofed.html

Sat, 02/06/2010 - 21:33 | 220860 ToNYC
ToNYC's picture

Chase Manhattan Plaza is the safest place in Manhattan; David sleeps easy every night knowing Jamie's on the job. Who is that JPM?..and we thought he was a rich man!

Sun, 02/07/2010 - 12:12 | 221127 Anonymous
Anonymous's picture

They think the club atmosphere goes on uninterrupted.

Foolhardy

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