The fascinating part of this story on MarketWatch.com isnâ€™t that Jamie Dimon thinks the credit crisis is mostly over. Whatâ€™s the head of the third-largest bank in the country supposed to say to a bunch of mutual fund managers? That he thinks the worst is still ahead and that everyone should go to cash?
No, the interesting part here is the comments section. The suspicion and distrust of Wall Street executives is palpable.
Arguably this is a small and select sample, but by and large it doesnâ€™t seem consumers who are running up their credit card balances to fill the gas tanks of their oversized, gas-sucking SUVs and pickups want to hear that the worst is over on Wall Street. Conversely, they also donâ€™t want to hear Citadelâ€™s Ken Griffin bemoan Wall Streetâ€™s troubles while giving the impression that everything on Main Street is fine.
Economic polarization is real, and it engenders distrust and anger among those collecting around the economically disadvantaged end of things. So we can laugh dismissively at comments like the one from â€śdryheavesdaily,â€ť who writes â€śThey should legalize pig hunting on Gall Street,â€ť but the undercurrent of unrest there is representative of a broader dissatisfaction with â€śthe way things are,â€ť which is reflected in polls, including a recent one conducted by the Wall Street Journal and NBC News that shows 73% of Americans think the country is â€śheading down the wrong path.â€ť
But itâ€™s nice that Jamie Dimon thinks the Wall Street crisis is mostly over.