Who Takes The Stupidity Crown: Jamie Dimon or Elizabeth Warren

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Mark Melin
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It is hard to tell who is making the more absurd statement. When JPMorgan Chairman and CEO Jamie Dimon initiated a fight with U.S. Senator Elizabeth Warren (D-MA) yesterday, accusing her of not understanding the banking system, he did so likely not fully understanding details of his own bank’s derivatives exposure. Warren, for her part, later countered, saying she “fully understands” a system that even the most sophisticated financial insider might not entirely understand. Dimon goes after Warren in Chicago, as Warren defends her knowledge of the financial system It all started yesterday in Chicago at an Executives’ Club lunch when Dimon…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

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