JPMorgan CEO Jamie Dimon Issues Sharp Rebuke of Trump

On Wednesday afternoon, members of a president’s Strategic and Policy Forum agreed to disband. The preference followed a press discussion on Tuesday, in that Trump equivocated white supremacist groups with counter-protesters during Charlottesville.


In a message to employees, JPMorgan CEO Jamie Dimon pronounced he “personally supported” a decision. He also spoke out opposite a president’s comments.

“I strongly remonstrate with President Trump’s greeting to a events that took place in Charlottesville over a past several days,” he wrote. “Racism, dogmatism and assault are always wrong. The equal diagnosis of all people is one of a nation’s bedrock principles. There is no room for irrationality here: a immorality on arrangement by these perpetrators of hatred should be cursed and has no place in a nation that draws strength from a farrago and humanity.”

The email is a important depart for Dimon who, in a past, has displayed a willingness to work with Trump. In May, a arch executive rebuffed protesters’ final that he quit a forum, observant that while he didn’t always determine with a president, he still wanted to assistance him lead a country.

Post Charlottesville (but before to Dimon’s letter, and a council’s disbandment), eleven members of Trump’s advisory councils had already resigned. The call started with Merck CEO Kenneth Frazier, who announced he was stepping down from a president’s Manufacturing Jobs Initiative Monday morning. By that evening, Under Armour CEO Kevin Plank and Intel arch executive Brian Krzanich had assimilated him.

Trump’s inflammatory press discussion on Tuesday—in that he walked behind his prior comments condemning of neo-Nazi and white supremacist groups by radically conflating their actions during Charlottesville with those of a counter-protesters—accelerated a fallout. Three additional members decamped on Tuesday, and Denise Morrison of Campbell Soup and Inge Thulin of 3M pronounced they would renounce Wednesday morning.

While a president’s advisory councils are mostly ceremonial, a dissection sends a transparent message—as does Dimon’s really open support of a decision.

Just 3 months ago, he described Trump as “the commander drifting a airplane.”

Today, he’s singing a really opposite tune. “It is a leader’s role, in business or government, to move people together, not rip them apart,” he wrote. Read his full matter to employees below.

I strongly remonstrate with President Trump’s greeting to a events that took place in Charlottesville over a past several days. Racism, dogmatism and assault are always wrong. The equal diagnosis of all people is one of a nation’s bedrock principles. There is no room for irrationality here: a immorality on arrangement by these perpetrators of hatred should be cursed and has no place in a nation that draws strength from a farrago and humanity.

As a association and for all business in general, it is vicious that we assistance rise rational, intelligent policies to assistance enhance opportunities for all of a citizens. we know that times are tough for many. The miss of mercantile expansion and event has led to low and distinct disappointment among so many Americans. But fanning divisiveness is not a answer. Constructive mercantile and regulatory policies are not adequate and will not matter if we do not residence a groups in a country. It is a leader’s role, in business or government, to move people together, not rip them apart.

Today, a members of a President’s Strategic and Policy Forum concluded to disband. The organisation put out a possess statement. But we also wanted we to know because we privately upheld this preference and how strongly we feel about these issues.

I’m really unapproachable of a 250,000 people operative here during JPMorgan Chase. we see your values any day – in how we provide your clients, your communities and any other. we am unapproachable to see so many of we heading by instance and not losing steer of a core beliefs that done a nation great. we mount with you.


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