Dan Loeb Says Jamie Dimon's Being 'Used As A Pinata To Satisfy Some Kind Of Bloodlust'
There have been a lot of demands lately from various people for Dimon to resign as CEO. JPMorgan just suffered its first quarterly loss under Dimon and it continues to face a mountain of legal costs.
Daniel Loeb, the activist investor who has made a career out of targeting troubled companies and ousting their chief executives, also sided with Mr. Dimon. "In my experience, they are meticulously ethical, and nobody has a more rigorous compliance effort." He added, "It's a very large and complex company, and things will happen." But he said that Mr. Dimon was now "being used as a scapegoat and piñata to satisfy some kind of bloodlust."
What's more is it doesn't appear that Third Point is a shareholder in JPMorgan based on the fund's latest 13F quarterly filing with the SEC.