Money Where There Mouths Are
How can we restore confidence in the banks and the financial system? Here's a start: today we found out Ken Lewis and Jamie Dimon independently put their own money on the line. Lewis, the CEO of Bank of America, bought 200,000 shares of Bank of America stock for around $1.2 million. Dimon, the CEO of JP Morgan Chase, bought 500,000 shares of JP Morgan Chase for around $11.5 million.
Who could understand the big banks better than the bankers running those banks?
Maybe the financial system won't collapse afterall.
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