Mark Zandi Says Jamie Dimon Would Be "Fabulous" Replacement To Geithner, Unclear On Madoff Succession Chances

Tyler Durden's picture

There may have been those who thought that our focused mockery of Moody's head something Mark Zandi went a little too far last summer when he and other prominent Princeton proctovoodoologist Alan Blinder praised Tim Geithner's abysmal "recovery" in a desperate attempt to get an administrative job away from their respective sinking ships. Well now he have pure comedy genius to add to allegations of incompetent buffoonery. On Friday, Zandi told Yahoo's Daily Ticker that of all proposed replacements to Tim Geithner (a list which he somehow was not part of despite years of sycophantry) JPMorgan head, currently embroiled in billion dollars worth of mortgage fraud litigation, would make a "Fabulous" Treasury Secretary. That's right: the head of the bank that effectively shares its balance sheet with the Fed courtesy of being the primary shadow banking system gatekeeper as one of two tri-party repo clearers, and whose relentless printing of new bonds would necessitate round after round of QE, would make a "fabulous" treasury secretary... While we are at it, why not just get Bernie Madoff, who continues to be in jail for doing what the global financial system does each and every day, furloughed and have him run the US Treasury every Tuesday, Wednesday and Thursday on alternative weeks when the bimonthly refunding occurs. After all who better to lead the US Treasury than him?

From Yahoo:

Zandi names several policymakers as potential recplacements, including Fed vice chair Janet Yellen, FDIC chief Sheila Bair and former deputy Treasury Secretary Roger Altman.

But the economist seems to favor JPMorgan Chase CEO Jamie Dimon, saying he'd be a "fabulous" Treasury Secretary. Dimon would be a controversial choice: while a Democrat, Dimon has been highly critical of Obama's push for greater regulation. Meanwhile, consumer advocates and left-leaning Democrats would certainly worry about his Wall Street background.

Complete tragicomedy:

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malikai's picture

Wow. If it is Dimon, we all owe RoboTrader a drink for a that call.

French Frog's picture

Quite clearly now, TPTB in the US feel that they can get away with just about anything, no matter how outrageous it looks to seasonned ZH readers as the masses are oblivious to the bigger games being played around them (and before someone says ... yes you can replace US with Europe or ....)

tom a taxpayer's picture

Oui, French Frog. Now that DSK is looking for a job, TPTB are thinking former IMF head DSK is an even better choice than Dimon for U.S. Sec of Treasury. International MuthaFucha DSK can take U.S. Treasury to a whole...'nother...level.

http://www.youtube.com/watch?v=YJnGRuidOXI

Careless Whisper's picture

Presenting the first of 4,500 witnesses to testify at the Senate confirmation hearing on mister Dimon.  Meet US Marine Captain Jonathan Rowles:

http://www.youtube.com/watch?v=Sexp3Ve52j4

 

whstlblwr's picture

Why Zandi on TV and not jail? He responsible for selling bad securities around world. Selling junk that he rated AAA. Now treated with respect? Who care what he think?

http://www.nytimes.com/2007/11/02/business/02norris.html

"The securitization markets collapsed when it became clear the rating agencies had been overly optimistic. When a security goes from AAA to junk within a few weeks, it does not inspire confidence in the rating process.

Troll Magnet's picture

If it is Dimon, I might just lose it and expatriate for good. 

snowball777's picture

Wait until he runs for president. BYO barfbag.

Bananamerican's picture

Dimon, The Geeth and Zandi....motherfuckers all.

unununium's picture

I, for one, welcome our Pig Man overlords.

malikai's picture

Ok, you got it. Sorry about that, didn't see your post, probably because you didn't get 1 billion junks like Robo.

Credit given where credit is due. That is your call.

Hugh G Rection's picture

I'll buy RT a ruffieColada... Then introduce him to my new Troll Rollover Plan.

The Malamute Kid's picture

I,d take Bernie over that Dimon piece of dog crap any day!

williambanzai7's picture

This guy is a donkey dressed up like a horse.

LongBalls's picture

Zandi needs to wipe his mouth.

Janice's picture

Mark Zandi is just pontificating in hopes of a lucrative government job.

blindfaith's picture

Well, I wish everyone would email, tweet or facebook a message to NPR's Diane Rehm Show, that this moron doesn't deserve a media voice.

She, Diane Rehm, laps up every word this this idiot and other special interest voices have to say and destroys here credibility in the process as being objective. Lets hear more moronic ideas from the likes of The Enterprise Institute, Moodies, Brookings, and all the other "I live in a different goldfish bowl from you" crowd. 

centerline's picture

Who can even listen to that show anyhow?  I feel like I am going to stroke out just listening to her.  NPR in general dropped the ball over a year ago just like most other MSM outlets.  They claim to be independant but operate in part on public (gov) funding.  No surprise there.  Likewise, real reporting does take some effort (cash) and there isn't much of either anymore.

tom a taxpayer's picture

The Wall Street whores dress different from the Times Square whores. And the Wall Street whores can afford the trip to Sweden for the Moody's Triple-Rated-AAA anatomical accommodations needed to service Wall Street's BigSwingingDs.  

Xibalba's picture

Wouldn't that be a demotion for him? 

snowball777's picture

Only if he actually steps down at JP when he gets the nod. ;)

eatthebanksters's picture

Don't you see?  It's JD's way off of his Titanic...he can walk away, get his taxes waived on the investments he must seel so as to be in a no conflict situation as Treasury Secretary.   He be absolved of responsibility for the destruction of Chase and all of the damage that it has done to the world, and he'll be rich beyond his wildest dreams, laughing all the way.  One thought, if the CEO of a TBTF bank had a zero tolerance policy for corrupt activities, do you think we'd be in this mess?  Dimon is a crook, a bigger one than Madoff and he even got his buddies in Washington to bail him out with our (taxpayer) money.  Poor Madoff, I wonder what he is thinking?  I wanna see Dimon swinging from a lampost! 

A_MacLaren's picture

More likely a way for him to pull a Hank Paulson (GS) backdoor liquidation of his JPM stock before the grand implosion.

Winterland's picture

If it were to happen SPU's rip. The market would love that choice, and guess what? Jaime gets the his capital gains tax waived when he would sell his shares of JPM, much like Paulson did when he left GS. I think it saved his close to $400mm.

snowball777's picture

Or....

Phase 1: Crash (think biggest pump'n'dump operation in history).

Phase 2: Sell off US gold reserves (to selves, natch).

Phase 3: Hyperinflation (go-go-gadget gold!).

Phase 4: NWO (Mr. Dimon wants you to use less spit when you polish his loafers, bitchez).

 

Mr Lennon Hendrix's picture

I am sure he accomplished all of that as NYFed Director.

The Axe's picture

sacred honor      my ass...

White.Star.Line's picture

These positions are not demotions for the bankster clan.

Careers in the "thieves and traitors" segment now requires a brief stint in government service.

Popo's picture

Actually,  these types of positions are *instant* bonuses of tens of millions of dollars because they involve non-taxation rules.

Paulson got a windfall of over $100 million by becoming SecTres.   Thanks for the "service" Hanky.

Bay of Pigs's picture

Exactly. The Banksters run the UST now.

Nothing is legit anymore. Brazen crimes happening right out in the open and accepted as "normal", welcomed and sanctioned by the regulators and law enforcement officials hired to stop this kind of criminal activity.

Bizarro world indeed.

Popo's picture

It's one thing to have a black-ops,  New York Fed chairman who colluded with crime-bosses become Secretary of the Treasury.

It's another thing to have one of the actual crime-bosses himself become Secretary of the Treasury.

This is completely out of control.  

Historically speaking, there is only one thing that stops trends like this.  And it usually involves flames, blood and a lot of noise.

Given that Americans don't have the stomach for those things,   I for one would like to welcome our new evil financial overlord.  

 

Oh regional Indian's picture

Very true Popo. All as per plan. Americans will arise, but only after much heat has been applied.

A frog, a vessel and hot water come to mind.

ORI

Gordon Freeman's picture

Paulson was a crime-boss

XRAYD's picture

Contrary to the laws of nature, and principles ground in truth, only in the banking world INCEST is considered a good thing.

Cindy_Dies_In_The_End's picture

I dunno. Tend to agree with Zandi, I mean, why not do away with all the pretense and put a person in charge who has their hand wiggling up Geithener's ass anyway. Same difference.

strannick's picture

Jimmy wiggle pinky, see Timmy wave

WonderDawg's picture

That is some funny shit.

Oh regional Indian's picture

Fabulous eh? It's clear enough that is one job the bank's will not get away from them.

My feeling is they will choose a person who will be sacrificed in the coming shit-storm of financial mayhem. 

ORI

http://aadivaahan.wordpress.com/2011/06/30/desiderata/

 

moonstears's picture

Madoff, "Ponzi Master" and smooth talker of 20+ yrs, would be perfect for Sec Treasury in the current failing US economic system, and he comes cheap, bus him to a Northern VA prison, and put him on work release everyday, pay him $1.25 an hour, sure he'll be more than happy to help. It's not like DC's credibility would suffer.

FEDbuster's picture

I would rather see Madoff as FED chairman.

Linda Green's signature would look nice on the front of the FRNs, plus it's easy to sign.

Zero Govt's picture

"Well now we have pure comedy genius to add to allegations of incompetent buffoonery."

It's a small world the elite educated halls of WS and DC ...those schools sure churn out an endless stream of 'winners' (none solvent yet but there's hopium!)

RobotTrader's picture

If Dimon is coronated as the new Treasury secretary, then new highs in stocks are imminent.

How is it that the PigMen always get the news first?

Oh, I forgot, they heard it from the Kiev and Prague escorts.


http://www.kiev-romance.com/browse-women.php


http://www.romantic-future.com/

Azannoth's picture

So now your a Pimp, how low can you fall still ?

Mr Lennon Hendrix's picture

Now?  He has always advocated his Pigmen are get what they want. 

10kby2k's picture

Robo---

Those ladies accept only hard assets.

Liquid Courage's picture

I was obligated to conversate with the  Bishop to properly orientate the throne so we could coronate the new King.

Now, the non-moron version:

I was obliged to converse with the Bishop to properly orient the throne so we could crown the new King.

ISEEIT's picture

Yippee!!

Even more hope and change.

This is just spectacular. Although I was sorta hoping Lloyd would get the gig, but I guess that would be a 'little' too overt?

LoneStarHog's picture

Mark Zandi would make an excellent SPEEDBUMP !!!!!