I would not have expected Alex Pareene of Salon to be the best CNBC guest since Carl Icahn, but here we are. I hope you caught his performance on Friday, telling an incredulous CNBC crew that JPMorgan Chase & Co. should fire Jamie Dimon and replace him with any guy plucked off the street, but if not do check it out. Also check out this very good Felix Salmon post from yesterday on the topic.
The story, as you probably know, is that Jamie Dimon runs JPMorgan, and JPMorgan is negotiating to pay $11 billion or so in fines to settle some regulatory investigations. These fines are on top of the billions of dollars of other fines that JPMorgan has already paid to settle other investigations, and the other billions of dollars of fines that JPMorgan will presumably pay to settle the investigations not settled in this $11 billion-ish settlement. Lotta fines is the point. Some people, like Pareene, think that Dimon should fall on some swords for all the fines, while some people, like most of CNBC, don't. Their disagreement is edifying.