And Now: The Homily from Brother Dimon … U.S. Debt Default Would Be A ‘Moral Disaster’

Jamie DimonIt’s 21st May: If you’re reading this, you’re in Hell; welfare Queen JP Morgan Chase’s CEO, Jamie Dimon provides today’s post-rapture homily via the AP/Huffington Post:

It would be a “moral disaster” if the United States were to default on its debts and become unable to pay its obligations, JPMorgan Chase & Co. CEO Jamie Dimon said at an appearance in Colorado Thursday evening.

The U.S. is the financial linchpin of the world, and the economic effects of the U.S. defaulting could be “potentially catastrophic,” he said at a dinner for the University of Colorado Denver Business School.

“It will dwarf Lehman,” Dimon said, referring to the 2008 collapse of the investment bank Lehman Brothers, which contributed to the beginning of a global financial crisis.

Dimon’s comments came in response to a question about the federal deficit from moderator Tom Petrie, a vice chairman of Bank of America Merrill Lynch.

Congress is debating raising the country’s $14.3 trillion borrowing limit. White House officials say the government will run out of cash to pay expenses Aug. 2, but lawmakers have said they want spending cuts before they agree to raise the debt ceiling.

Read More: AP/Huffington Post. Another retrofitted retread from Dystopia Diaries

, , , , , , , , ,

4 Responses to And Now: The Homily from Brother Dimon … U.S. Debt Default Would Be A ‘Moral Disaster’

  1. Tyler Durden May 22, 2011 at 1:58 pm #

    In any given circumstance, whenever fear is being used as a direct motivation to action, warning bells for all free thinking individuals should be going off, especially coming from these parasites.

  2. Tyler Durden May 22, 2011 at 9:58 am #

    In any given circumstance, whenever fear is being used as a direct motivation to action, warning bells for all free thinking individuals should be going off, especially coming from these parasites.

  3. Robobagons May 23, 2011 at 7:40 am #

    Not Moral? Sense when did CEO’s of banks even know the word Moral even existed. Spew your bullshit somewhere else Mr. CEO.

  4. Robobagons May 23, 2011 at 3:40 am #

    Not Moral? Sense when did CEO’s of banks even know the word Moral even existed. Spew your bullshit somewhere else Mr. CEO.

Leave a Reply