Read time: 1 minute

Even Jamie Dimon Says We Need To Build A More Inclusive Economy

The CEO of JPMorgan Chase called the pandemic a "wake up call."
Views:

Via Bloomberg News, a surprising statement from the CEO of JPMorgan Chase:

Jamie Dimon said he hopes policy makers use the Covid-19 crisis as a catalyst to rebuild a more-inclusive economy as the pandemic exposes stark inequalities among Americans.

“This crisis must serve as a wake-up call and a call to action for business and government to think, act and invest for the common good and confront the structural obstacles that have inhibited inclusive economic growth for years,” the chief executive officer of JPMorgan Chase & Co. wrote in a memo to employees ahead of the bank’s annual shareholder meeting Tuesday.

[...] “From the re-opening of small businesses to the rehiring of workers, let’s leverage this moment to think creatively about how we can mobilize to address so many issues that inhibit the creation of an inclusive economy and fray our social fabric,” Dimon wrote.

In the memo, he also pointed out the disparate effects of the pandemic:

“Unfortunately, low-income communities and people of color are being hit the hardest, exacerbating the health and economic inequities that were already unacceptably pronounced before the virus took over,” Dimon said.

“An inclusive economy – in which there is widespread access to opportunity – is a stronger, more resilient economy,” he added. “This crisis must serve as a wake-up call and a call to action for business and government to think, act and invest for the common good and confront the structural obstacles that have inhibited inclusive economic growth for years.”

Whether he's just going with the populist wave or he's had a real change of heart, it's recent.

Here he is less than a year ago, being schooled by Rep. Katie Porter.

Can you help us out?

For 16 years we have been exposing Washington lies and untangling media deceit. We work 7 days a week, 16 hours a day for our labor of love, but with rising hosting and associated costs, we need your help! Could you donate $20 for 2020? Please consider a one time or recurring donation of whatever amount you can spare, or consider subscribing for an ad-free experience. It will be greatly appreciated and help us continue our mission of exposing the real FAKE NEWS!

More C&L Coverage

Comments

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.