Despite his history of donating to Democratic candidates and identity as a Democrat, albeit only “barely,” JPMorgan CEO Jamie Dimon had some tough words for the party ahead of November’s election.
“I wish the Democrats would think a little more carefully when they talk about MAGA,” he said during a CNBC interview, referencing former President Donald Trump’s frequently used acronym for his “Make America Great Again” political platform.
Dimon went on to give the American people credit for being “hungry to grow” and said that the nation’s leaders have “a great hand” to play if they are able to separate their disdain for Trump from the millions of Americans who support him.
“When people say MAGA, they’re actually looking at people voting for Trump and they think they’re voting, and they’re basically scapegoating them that you are just like him,” he said. “But I don’t think they’re voting for Trump because of his family values.”
The banking executive offered an uncharacteristic defense of Trump’s policies, if not the rhetoric he used to promote them.
“If you just take a step back, be honest: He’s kind of right about NATO,” Dimon said. “Kind of right about immigration. He grew the economy quite well. Tax reform worked. He was right about some of China. I don’t like how he said things about Mexico, but he wasn’t wrong about some of these critical issues — and that’s why they’re voting for him.”
He encouraged other Democrats to keep that in mind when addressing the ordinary Americans who are simply voting in what they believe is the best interest of their families and the country.
“I think people should be a little more respectful of our fellow citizens,” Dimon added. “And when you guys have people up here, you should always ask the ‘why.’ Not like it’s a binary thing — you’re supporting Trump you’re not supporting Trump. Why are you supporting Trump?”
For years, Barack Obama and Jamie Dimon were inseparable. The JPMorgan chair vocally supported Obama, and Obama frequently heaped praise on Dimon and acted to help JPMorgan.
That's what makes these comments from Dimon about Trump and Trump supporters all the more remarkable: https://t.co/RxPDfx2Q4Q
— Glenn Greenwald (@ggreenwald) January 17, 2024
Concluding with a denunciation of the Democratic Party’s penchant to describe Trump supporters as “deplorables hugging onto their Bibles and their beer and their guns,” he said: “I mean, really like, can we just stop that stuff and actually grow up and treat other people with respect to listen to a little bit?”
In addition to concerns about the economy and other pressing issues, he predicted that “this negative talk about MAGA is going to hurt [President Joe] Biden’s election campaign.”