By Erika BrockTheStatehouseFile.com
INDIANAPOLIS – Gov. Mike Pence has appointed Dennis Bassett to be a the director of the Department of Financial Institutions, a cabinet-level position in his administration.
“I’m confident he will serve Hoosiers with the highest integrity,†Pence said.
Basset has had four decades of experience in managing financial institutions. Most recently, Bassett was the chairman of JPMorgan Chase Indiana, where he served from 2005 until he retired in 2013.
He also served as the Indiana chief executive officer for Bank One, Indiana president of Huntington Bank and senior vice president and manager of large corporate banking for the Midwest division at First Chicago NBD.
“Dennis Bassett’s breadth and depth of knowledge is incomparable,†Pence said.
Erika Brock is a reporter for TheStatehouseFile.com, a news website powered by Franklin College journalism students.
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Another good ole boy.
Aye. Had to consult the all knowing Google for a memory refresh but J.P.Morgan but that company does not have a very good record. I won’t paste a bunch of links but here are two;
http://www.forbes.com/sites/petercohan/2012/05/12/how-jpmorgan-lost-17-5-billion/
http://www.huffingtonpost.com/renee-parsons/jp-morgan-and-the-largest_b_1347324.html
Since Mr. Bassett was employed by them at that time I hope for the sake of Indiana he does not repeat the same.
And just for grins, here is a probability rating of them (J.P.Morgan) going bankrupt;
http://www.macroaxis.com/invest/ratio/JPM–Probability-Of-Bankruptcy
It would be interesting to see the donor histories of the two new Utility Commissioners and Mr. Golden Parachute here.
The link on the bankruptcy probability is an eye-opener, dveatch.
Indeed. But not to worry. Obama will do with them like he did with GM, circumvent the bankruptcy laws, which BTW the is not something the Executive branch can do Constitutionally, ie legally. Or he may not, I don’t think J.P.Morgan has any union employees. You might find this interesting as well; http://www.seiu.org/a/profilechase.php
Do not misinterpret what I have posted as anything falling near the realm of OWS and their lawlessness. That is not the case. A business can make as much money as they want. In their case, if you do some research you will find J.P.Morgan “discouraging” some of their clients, some of which were municipalities from getting out of the derivatives market. And we all know what happened with that; the housing bubble bust.
Many of their clients following their “encouragement to stay” caused them to lose a ton of money. It caused a municipality in George (I think it was) to go bankrupt. J.P.Morgam did this “encouragement” knowing full well what was about to happen. That is being nothing but deceitful and for that they should be nailed.
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