JPMorgan Chase CEO Jamie Dimon on Friday scrambled to contain the fallout from his announcement that his bank's Chief Investment Office lost $2 billion on a bad bet on corporate debt.
Dimon, who received $23 million in compensation in 2011, is "just barely" a Democrat, according to press accounts. He has donated to both Republicans and Democrats over the years, including tens of thousands of dollars to the Democratic Senate Campaign Committee, according to Ira Stoll of Futureofcapitalism.com:
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Campaign finance records at the Federal Election Commission show Mr. Dimon gave $2,000 to Mr. Obama's Senate campaign in 2004; $2,000 to the campaign of future Obama chief of staff Rahm Emanuel in 2007, $28,500 to the Democratic Senatorial Campaign Committee in 2007, $10,000 to the Democratic Congressional Campaign Committee in 2006, and $4,600 to Hillary Clinton's presidential campaign in 2007. He has also given to the campaigns of some Republican senators, including $2,000 in 2009 and $2,000 in 2010 to Rob Portman, a Republican of Ohio; $2,000 in 2007 to John Cornyn of Texas; and $2,500 in December 2011 to Mitch McConnell, the Senate Republican Leader.
Dimon is also a frequent visitor to the Obama White House. He has entered its gates at least 18 times during the Obama presidency, according to official records.
The New York Times magazine described Dimon in December 2010 as "America's Least Hated Banker."
That is about to change, sources say.