Innovation’s “An Unfinished House: Filling the Gaps in Global Governance” conference, Waterloo, Canada, October 28, 2011.
“For successful people to say the nasty end of the income distribution”
CF interview with Mohamed El-Erian, June 15, 2010.
“No nation can tolerate for long excessive shifts in income”
CF e-mail correspondence with Mohamed El-Erian, October 10, 2011.
Mark Carney is not most people’s idea of a radical
See the following articles in
“I have called it anti-American”
Rachelle Younglai and Philipp Halstrick, “JPMorgan’s Dimon’s Aggressive Style May Hurt Bank Cause,” Reuters, September 29, 2011.
Another participant remembered Dimon’s remarks
Tom Braithwaite and Patrick Jenkins, “JPMorgan Chief Says Bank Rules ‘Anti-US,’”
JPMorgan, which earns around a quarter
According to the bank’s 2011 annual report, total net revenue was $97 billion and managed revenue from outside North America was $25 billion.
After the meeting Blankfein sent Carney
Tom Braithwaite, “Dimon in Attack on Canada’s Bank Chief,”
Dimon, who stands by the substance
This account was drawn from background conversations with Wall Street bankers, as well as Kevin Carmichael, Tara Perkins, and Grant Robinson’s “Bankers, Regulators Square Off amid Turmoil,”
September 26, 2011. See also “JPMorgan’s Dimon’s Aggressive Style May Hurt Bank Cause,”
“He’s my governor and I’m very proud of that fact”
Kevin Carmichael, “Carney, Waugh Spar over New Banking Rules,”
“It is hard to see how backsliding would help”
Mark Carney, “Some Current Issues in Financial Reform,” remarks to the Institute of International Finance, Washington, D.C., September 25, 2011.
between 2003 and 2011, at least fourteen Chinese
Emma Dong, “China Executes 14 Billionaires in 8 Years, Culture News Reports,”
July 22, 2011.
“In the 1990s, of course, free enterprise, capitalism, and so forth”
Howard Fineman, “Jed S. Rakoff: Federal District Judge of New York’s Southern District (The Inspirationals),”
“I placed too much confidence”
David J. Lynch, “Dimon-Bernanke Faceoff Shows Frustration over Regulation amid Kohn Regrets,” Bloomberg News, July 7, 2011.
“The Fed listens to Wall Street and believes what it hears”
Willem H. Buiter, “Central Banks and Financial Crises,” Federal Reserve Bank of Kansas City’s Maintaining Stability in a Changing Financial System symposium, Jackson Hole, Wyoming, August 23, 2008.
Dimon even left his own star-studded fifty-second
Kate Kelly, “Inside the Fall of Bear Stearns,”
President Obama’s favorite banker
Jackie Calmes and Louise Story, “In Washington, One Bank Chief Still Holds Sway,”
, July 18, 2009.
“Most of the bad actors are gone”
“What Dimon Told Bernanke,”
“My daughter called me from school one day”
Sewell Chan, “Voices That Dominate Wall Street Take a Meeker Tone on Capitol Hill,”
the attitude they betrayed as “jaded”
Mark Carney, “The Economic Consequences of the Reforms,” remarks to the Bundesbank, September 14, 2010.
more than 100 to 1
Jamie Dimon’s 2011 pay package totaled $23 million, compared to Ben Bernanke’s $199,700 salary in 2011.
CFTC officials took the Megabus
Ben Protess. “U.S. Regulators Face Budget Pinch as Mandates Widen,”
“New and better rules”
“Some Current Issues in Financial Reform”
“The argument that financial institutions”
Dave Clarke, “JPMorgan’s Dimon Loses Clout as Reform Critic,” Reuters, May 11, 2012.
“CEOs have duties to their shareholders”
Harris, “Billionaire Opens Up on Politics.”
“True capitalism lacks a strong lobby”
Luigi Zingales, “Capitalism After the Crisis,”
1 (Fall 2009).
“no car with my name”
Lee Iacocca,
(Bantam, 1984), p. 108.
“The Foundation exists and thrives”
Text of Ford’s letter to Alexander Heard as published in
“He has a right”
Heather Mac Donald, “The Billions of Dollars That Made Things Worse,”
Ford was the second-highest-paid
“Who Gets The Most Pay?” and “The Dimensions of American Business: A Roster of the U.S.’s Biggest Corporations,”
Ford’s letter crystallized a fear
An example of this anxiety is the 1971 letter Lewis Powell, then a corporate lawyer and a future Supreme Court justice, wrote to Eugene Sydnor, Jr., the director of the U.S. Chamber of Commerce. In it, Powell argued, “The overriding first need is for businessmen to recognize that the ultimate issue may be survival—survival of what we call the free enterprise system, and all that this means for the strength and prosperity of America and the freedom
