Remember the Jamie Dimon who couldn’t complain enough about how Wall Street was “under assault” by regulators? Well, these days, he’s saying stuff like this:
I completely understand that society has a perfectly legitimate right to put in structures and regulations and rules that make it fairer, better, cleaner.
You read that right. Perfectly legitimate.
The new, reasonable CEO of JP Morgan Chase talked to Bloomberg Markets magazine on March 1 about the financial system, safety, and the future of his bank.
Before you get too choked up about his noble intentions — he stressed that customers always come first — do remember that we’re talking about a company that just admitted wrongdoing in a case where the Securities and Exchange Commission said it had failed to tell clients that it was favoring expensive, firm-managed mutual funds over cheaper alternatives.
You can read my column for TheStreet here.
Today, the Society of American Business Editors and Writers said that I won the “Best in Business” award for commentary in the news agency category for columns I wrote in 2013 for Bloomberg View.
Here’s a list of all the winners, including writers worth following on a regular basis, such as Jesse Eisinger of ProPublica and Michael Smallberg of The Project on Government Oversight (POGO).
If you’re looking for smart and talented financial journalists worth adding to your regular reading list, take a few minutes to go through the roster of Sabew winners.
Notes from the judges on my submission:
NEWS AGENCIES COMMENTARY
Winner: Susan Antilla, Bloomberg View, for her columns.
Terrific topics. Tough, engaging, enlightening, head-snapping. Well-reasoned arguments. Writes with authority and insight in a simple, declarative style that doesn’t wander. No navel-gazing. Sophisticated humor used lightly in a way that advances the argument. Not humor for humor’s sake.
Here are links to the stories the judges considered:
Do Deutsche Bank’s ‘Prettier’ Women Get the Best?
JP Morgan’s Teflon CEO Glides Past Reputation Hits
Hate Follows When the Police Try to Do Their Job
Top Stock Picks of 2013 Lose Out to Honey Boo-Boo
There’s been a lot of attention to the government-to-private practice “revolving door” since President Barack Obama nominated white-collar defense lawyer Mary Jo White to be chairman of the Securities and Exchange Commission.
Investor advocates say we should be worried when lawyers shuffle back and forth between jobs as regulators and lucrative spots defending banks and brokerage firms. But the lawyers who move in and out of government jobs say they can handle the conflicts just fine.
The New York City Bar Association had a panel to discuss “The Financial Crisis and the Regulatory Revolving Door” on Feb. 12 and moderator Scott Cohn of CNBC posed the question “Which is it?” Is it spinning out of control or is it non-existent?”
I was one of the six panelists, and cited a few gems from a just-released report by The Project on Government Oversight (POGO) that illustrated the close connection between the SEC and its alumni who’d moved on to represent the institutions the SEC regulates.
In an item about the panel on Feb. 19, POGO said “White’s nomination highlights the challenge that the SEC and many agencies face when senior officials have tangled ties to the industry they’re supposed to be regulating.” You can read the POGO post here.
I wrote about Mary Jo White’s conflicts in a recent column for Bloomberg View.
Your thoughts on the debate? Let me know at @antillaview or firstname.lastname@example.org.