It's certainly no coincidence. Jamie Dimon, like some of the others I've mentioned, saw it all coming. The writing was on the wall as they say. The following is an excerpt from a recent Fortune article detailing how Mr. Dimon helped J.P. Morgan beat the credit crisis:
It was the second week of October 2006. William King, then J.P. Morgan's chief of securitized products, was vacationing in Rwanda, visiting remote coffee plantations he was helping to finance. One evening CEO Jamie Dimon tracked him down to fire a red alert. "Billy, I really want you to watch out for subprime!" Dimon's voice crackled over King's hotel phone. "We need to sell a lot of our positions. I've seen it before. This stuff could go up in smoke!"
Don't forget to check back to Dan's Deep Creek Blog for future updates.
No comments:
Post a Comment