Cramer Quick Take: Dimon Doesn't Deserve This
NEW YORK (TheStreet) -- Bankers may be hated by the public, but JPMorgan Chase (JPM) CEO Jamie Dimon doesn't deserve to be dragged through the mud one more time, Jim Cramer told Debra Borchardt at TheStreet.com Wednesday.He was discussing the latest legal maneuverings surrounding the embattled investment bank.
Cramer said the federal government begged JPMorgan to buy the ailing Bear Stearns and there simply wasn't enough time to perform the due diligence to make everything perfect.But in an election year, it's not surprising to see prosecutors going after Dimon and others as the public still feels that someone needs to pay for the financial meltdown of 2008.
Cramer said he's been harsh on Dimon at times, even though JPMorgan is a stock he owns for his charitable trust, Action Alerts PLUS, and the bank is a lot better than many of the other players out there. But in this case, he said, Dimon doesn't deserve another public flogging.
Watch the full Cramer interview here.
--Written by Scott Rutt in Washington, D.C.
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