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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Why Jamie Dimon Didn’t Get Treasury — A Job He Wanted
[Photo: by World Economic Forum]
The revelation this week that Carl Icahn has been helping President-elect Trump choose Cabinet nominees might help explain why JPMorgan Chief Jamie Dimon is not going to Washington.
Trump on Thursday named the billionaire shareholder activist Icahn as his special adviser on regulatory reform. Icahn liked Treasury pick Steven Mnuchin, and did not favor Dimon, who desired the job, a source close to the situation. Dimon’s people kept telling the media he did not want the position, but the sources said that was not the case.
Neither Trump nor Icahn uses any of the large bulge-bracket Wall Street banks to fund their deals. Trump usually works with Deutsche, and Icahn deals with Jefferies.
Icahn supports the Volcker Rule, which stops banks from making certain kinds of risky investments, and is wary of the big banks, sources said.
In “Danger Ahead,” his September 2015 self-produced video about the economy and how Trump could help America, Icahn said, “Teddy Roosevelt was great — he stood up to J.P. Morgan.” So might have Icahn.
