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Last Updated : Jun 13, 2019 01:52 PM IST | Source: Moneycontrol.com

Bernie Sanders lashes out at JPMorgan CEO Jamie Dimon over socialism remark

Sanders, who describes himself as a socialist, will run the race for president in 2020 as an independent candidate.

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US lawmaker Bernie Sanders criticised JPMorgan Chase CEO Jamie Dimon over his remarks on socialism.

On June 12, Dimon spoke against the government’s control of companies since businesses could then be manipulated for political purposes.

"The whole notion that that's somehow going to be the course for America is a huge mistake," Dimon said, as quoted by CBS News.

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Sanders tweeted that Dimon had no complaints about the US government's $700-billion bailout of the financial sector during the 2008 crisis.

Sanders, a senator from Vermont, describes himself as a socialist. He intends to run the race for president in 2020 as an independent candidate.

A spokesperson for JPMorgan has not yet responded to CBC News' request for comment.

Dimon, JPMorgan's CEO since 2006, previously said that the company did not require a bailout to survive the financial crisis. JPMorgan acquired struggling rivals, such as Bear Stearns, during that period.

In 2012, Dimon called himself "barely a Democrat". Speaking to CNBC in January, he said, “My heart is Democratic but my brain is kind of Republican,”.

 

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First Published on Jun 13, 2019 01:52 pm

tags #JPMorgan

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