It’s really amazing how the media latches on to a story. Not long ago, Apple was all the rage. Positive story after positive story. As you know, I took the very unpopular other side of that equation publicly. And they trashed me all over the place. Funny how that chatter has really quieted down!
Now we have JP Morgan in the very unenviable position of being at the other end of that spectrum. Negative story after negative story. The media just feeds on it! Once again, I am taking the unpopular side and saying that the JP Morgan news is totally overblown and much ado about very little.
I will take Jamie Dimon over every single banker not only in the US but around the world. He took control, owned up to the problem and heads rolled. Citibank, are you listening and watching? Bank of America, hello, anybody home?