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After election, Jamie Dimon congratulates Wall Street's nemesis

November 09, 2012|By Andrew Tangel
  • Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co., waits for the start of a Senate hearing.
Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co.,… (Jonathan Ernst / Bloomberg )

NEW YORK -- It was a tough election for Wall Street. Not only did the candidate it bet against, President Obama, win reelection, but the financial industry's nemesis Elizabeth Warren ascended to power as a U.S. senator.

How will Wall Street make nice with Washington Democrats?

Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co., may have launched a charm offensive.

Dimon told CNBC Friday afternoon that he called Warren to congratulate her on her victory over Sen. Scott Brown, the Republican from Massachusetts. 

During her campaign, Warren called for Dimon to step down as a member of the board of the New York Federal Reserve. (He refused, saying the role was merely advisory.)

“I had a fine relationship with Elizabeth Warren," Dimon told the TV network. "I called her up to congratulate her for winning her election. When she was at the CFPB [the Consumer Financial Protection Bureau] we worked together well."

Dimon also offered a kind word, in passing, for Obama. Responding to a question about friction between government and business leaders, Dimon called the U.S. economy the world's greatest economic engine.

“I have enormous respect for the president," Dimon said. "I just think that business and government collaborating has a much better chance of igniting that engine than this antagonistic behavior.”


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