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Business

JPMorgan CEO considered for Treasury Secretary -source

Opening sequence

Opening sequence

Business

JPMorgan CEO considered for Treasury Secretary -source

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COMING UP:JPMorgan CEO considered for Treasury Secretary -source

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Transcript

00:00:00
>> I don't know, but I think->> Wall Street's golden boy may be on the list for an address change from New York to Washington. Jamie Dimon, the head of JPMorgan Chase, is being courted by the incoming Trump Administration for a job as Treasury Secretary, according to a source familiar with the matter.
00:00:17
If that's the case, it would mark a dramatic shift in Washington after years of bankers being publicly flogged following the financial crises. Besides a few blemishes on his track record, like the $6.2 billion trading loss back in 2012, dubbed the London Whale. Dimon has been seen as the gold standard on Wall Street, even during the financial crisis.
00:00:40
Still, it's an odd name to float, considering Jamie Dimon and President-elect Trump, don't have a very cozy relationship. In his annual shareholder letter earlier this year, Dimon alluded to Trump in this way. Quote, denigrating a whole class of people or society, this is always wrong and just another form of prejudice.
00:01:01
And that's light compared to what Trump had to say about him back in 2013, calling Dimon quote, the worst banker in the United States. Both men have different views on America. Trump says he wants to make America great again, but Dimon consistently tells the greatness of America and its quote, resilient economy.
00:01:21
But they do have something in common, both think the Washington crackdown on banks and the financial crisis has gone too far. No word yet on whether Dimon would even consider an invitation to join team Trump.