Wall Street Hedges Its Bet on Biden

WASHINGTON, DC - APRIL 21: U.S. President Joe Biden arrives for an event in the Rose Garden of the White House April 21, 2023 in Washington, DC. Biden signed an executive order that would create the White House Office of Environmental Justice. (Photo by Drew Angerer/Getty Images)
William D. Cohan
May 29, 2024

Shortly after Jamie Dimon made his stunning comments about Donald Trump at Davos—praising the indicted former president as “kind of right” about a lot of things—my phone blew up with soliloquies from Wall Street’s liberal in-crowd. The callers wanted to know what the hell had just happened. Had Jamie lost the plot? Had he forgotten the chaos of Trump’s four years in office? More importantly, was he positioning himself and JPMorgan Chase for what he must be figuring will be a Trump victory in November? Since when had Jamie become so craven?