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January 21, 2014

Who's Got the Lust?

As we approach February 14th, you can hear a lot about lust in the news today, but few think of “bloodlust” and even fewer would think the following statement by Better Markets President and CEO Dennis Kelleher would be an example of it: “By any objective measure, [JP Morgan Chase’s CEO] Jamie Dimon should be fired. The compliance failures are egregious and systemic.” On its own and in context, Mr. Kelleher’s statement hardly constitutes “bloodlust.”

Yet, that is exactly what New York Times columnist and Dealbook Editor in Chief Andrew Ross Sorkin wrote about Mr. Kelleher’s comment in a column defending Mr. Dimon. While others have taken issue with the column, no one has analyzed the “lust” aspect as well as Professor William K. Black in a brilliant piece that is equal parts hilarious and outraged, which you really should read: What Would It Take To Get Andrew Ross Sorkin To Call For Jamie Dimon To Resign? (New Economic Perspectives).



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