JPMorgan Stock Slides After Rumors CEO Dimon Offered Treasury Secretary Role

Having already been under selling pressure today, a tweet from Fox's Maria Bartiromo suggesting CEO Jamie Dimon is about to be offered the job of Treasury Secretary, pushed JPMorgan shares notably lower.

 

 

Shareholders are not happy...

 

As we noted previously, if Trump hopes that he can "drain a swamp" by hiring the swamp puppet master, he - and millions of his supporters - will be very disappointed.

As for Dimon (JPMorgan), or Mnuchin (Goldman Sachs); they will be delighted: as a reminder, as Hank Paulson demonstrated so well, the only reason why bankers become Treasury Secretaries, is to be allowed to sell all their corporate stock upon moving to public office, tax free.