Quote of the day: “Jamie is always hanging around the hoop”

“I think this is a brilliant quote because it encapsulates the situation perfectly. (For readers who are not basketball fans, this was a sports reference to basketball players who stay close to their basket to score easy lay-up points). Dimon, a classic keep-your-powder-dry-when-everyone-else-is-losing-his-head conservative banker, is also an opportunist. In a move straight out of Warren Buffett’s game plan, he was looking for some easy lay-ups when the chips were down and everyone was panicked. That’s how he got bear Stearns and it’s also how JPMorgan Chase got Washington Mutual.”

From: http://ping.fm/g9ryO