In his just-released annual shareholder letter, Jamie Dimon included this note, which our Sam Ro flagged:
Recently, we have begun to achieve modest economic growth around the globe, somewhat held back by certain natural disasters such as the tsunami in Japan. But I have no doubt that our own actions – from the debt ceiling fiasco to bad and uncoordinated policy, including the somewhat dramatic restraining of bank leverage in the United States and Europe at precisely the wrong time – made the recovery worse than it otherwise would have been. You cannot prove this in real time, but when economists 20 years from now write the book on the recovery, it may well be entitled, It Could Have Been Much Better.
Basically he’s saying: Obama, Bernanke, Geithner, Republicans, Trichet, Merkel, Sarkozy: Y’all suck.
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