JPMorgan Stock Slides After Rumors CEO Jamie Dimon Offered Treasury Secretary Role

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JPMorgan Stock Slides After Rumors CEO Dimon Offered Treasury Secretary Role:

Having already been under selling pressure today, a tweet from Fox’s Maria Bartiromo suggesting CEO Jamie Dimon is about to be offered the job of Treasury Secretary, pushed JPMorgan shares notably lower.

Shareholders are not happy…

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As we noted previously, if Trump hopes that he can “drain a swamp” by hiring the swamp puppet master, he – and millions of his supporters – will be very disappointed.

As for Dimon (JPMorgan), or Mnuchin (Goldman Sachs); they will be delighted: as a reminder, as Hank Paulson demonstrated so well, the only reason why bankers become Treasury Secretaries, is to be allowed to sell all their corporate stock upon moving to public office, tax free.

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