JPMorgan CEO Jamie Dimon Addresses State of the Economy at NYU Hospitality Conference

NEW YORK, June 9, 2009 - JPMorgan CEO Jamie Dimon was riveting as the featured luncheon speaker at the 31st Annual NYU International Hospitality Investment Industry Conference. Often interrupted by applause and laughter, Dimon addressed a room full of global hotel CEOs, analysts, and other hospitality leaders about the current state of the economy and the future outlook.

Media outlets such as ReutersBloombergCrain’s New York Business, and more reported on Dimon’s mock letter to U.S. Treasury Secretary Timothy Geithner, which read in part:

“Dear Timmy – We are happy to be able to pay back the $25 billion you lent us. We hope you enjoyed the experience as much as we did.”

Crain’s New York Business summarized Dimon’s general sentiment with the following: 

“While he still believes it was the right decision for his bank and that the TARP program ‘saved the country an enormous amount of pain and suffering,’ Mr. Dimon believes that banks are unfairly maligned as the culprits for the economy’s problems. The real fault, he maintains, lies with businesses and financial instruments that were unregulated.”

Hosted by the NYU Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management and sponsored by the leading hospitality organizations, the NYU Hospitality Conference is the premier hospitality finance and development forum of its kind.

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