Jamie Dimon still lacks confidence that the bailout will work. We noted last week that the JP Morgan Chase CEO kept using words like “hope” when he discussed the government’s plan to rescue the banking system. Over the weekend, Dimon was down at Duke’s homecoming weekend. He hung around with his daughter, who is a sophomore at Duke, drank Busch light at the tailgate, and stopped by Duke’s auditorium to tell an audience of 500 that we’re in serious trouble.
From the Duke Chronicle:
“Dimon did not speak optimistically about the current crisis in the financial markets, stating that the world is facing troubled times. Although the government has aggressively tried to combat market turmoil and restore faith in the American markets, this approach will not correct the situation, he said.”