JPMorgan Chase CEO Jamie Dimon raised eyebrows this week with comments he made Friday regarding Democrats and their ability to navigate the "real world."
"I have a lot of friends who are Democrats, and they're idiots. I always say they have big hearts and little brains. They do not understand how the real world works. Almost every single policy rolled out failed," Dimon said during a foreign ministry event in Dublin, Ireland.
Dimon has long supported Democrats but the leftward lurch of the party on social issues such as diversity, equity, and inclusion efforts has forced him to speak out. "We all were devoted to reaching out to the Black community, Hispanic, the LGBT community, the disabled — we do all of that. But the extent, they gotta stop it. And they gotta go back to being more practical. They're very ideological," he said.
A registered Democrat, Dimon has been comfortable supporting President Donald Trump's policies even if they go against the majority in his party. The president's on-again, off-again stance on tariffs has some in the financial world coin the phrase "TACO," or "Trump Always Chickens Out." Dimon has said he doesn't support the pejorative and has insisted the president has been correct in reversing course on tariffs in some cases.
The separation between Dimon and his fellow Democrats extends well beyond DEI and Trump. The JPMorgan Chase CEO often took issue with the Biden administration and their "lack of knowledge" regarding fundamental business strategy. When far-left socialist Zohran Mamdani secured the Democratic nominee for mayor of New York, Dimon described his policies as being "the same ideological mush that means nothing in the real world."
Dimon has performed an ideological balancing act over the years having given campaign contributions to both Republicans and Democrats. His recent remarks echo his own self critique in 2019 when said, "My heart is Democratic but my brain is kind of Republican," expressing a desire to blend social liberalism with fiscal conservatism.
James Morley III ✉
James Morley III is a writer with more than two decades of experience in entertainment, travel, technology, and science and nature.
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