Thursday, April 16, 2009

TARP World is complicated

Is JP Morgan Chase CEO Jamie Dimon racist? Unlikely. But he's showing his lack of familiarity with the politics with which firm is now entangled via the financial sector bailouts, of which his firm was a major beneficiary --

Dimon, calling money received through the Troubled Asset Relief Program “a scarlet letter,” and “the TARP baby,” said on a conference call today that the New York-based bank is awaiting guidance from the U.S. Treasury Department. “We could pay it back tomorrow,” he said.

He's doing wordplay on Tar Baby, which --

In an interview, Toni Morrison said the following of its use in her book, in an acting of reclaiming: "Tar Baby is also a name, like 'nigger,' that white people call black children, black girls, as I recall…

Image from Wikipedia

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