Who Takes The Stupidity Crown: Jamie Dimon or Elizabeth Warren

It is hard to tell who is making the more absurd statement. When JPMorgan Chairman and CEO Jamie Dimon initiated a fight with U.S. Senator Elizabeth Warren (D-MA) yesterday, accusing her of not understanding the banking system, he did so likely not fully understanding details of his own bank’s derivatives exposure. Warren, for her part, later countered, saying she “fully understands” a system that even the most sophisticated financial insider might not entirely understand.

Dimon goes after Warren in Chicago, as Warren defends her knowledge of the financial system

It all started yesterday in Chicago at an Executives’ Club lunch...