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April 3, 2008

The Shorter Jamie Dimon

The shorter Jamie Dimon from part two of today's Senate hearing on the JPMorgan takeunder of Bear Stearns:

• You people asked us to do this, so don't blame us.
• It was better for you than for us, because we saved capital markets for everyone.
• We could lose money on this, know. Really.
• We worked hard, even staying up late at night for a few days, pulling this deal together, so you have to think of the billions we'll make on Bear on an hourly basis.
• We think of the Fed's participation as skin in the deal. It's not risk -- it's upside!

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