Praise for Dimon’s Mea Culpa Strategy


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NEW YORK, May, 18 2012 (Bloomberg) -- One veteran Wall Street message maker has something for Jamie Dimon may be short on these days: a compliment. Melissa Daly, who worked at Goldman Sachs and merger specialist Brunswick Group and now runs the eponymous MFD Communications, says she’s a fan of the under-siege bank chief’s strategy of mea culpa on overdrive.

“The easiest thing to do right now would be to hunker down, keep journalists at arm’s length and decline to comment,” Daly wrote on her blog today in a regular commentary called, naturally, “The Daly Dose.” “It’s commendable that the executives at JPM appear to want to set the record straight, admit to faults, show their pain and demonstrate that they are not infallible.”

Pressed for more, Daly offered that a key point in fighting off the Dimonfreude engulfing Wall Street and the Beltway last week was reshooting the “Meet the Press” interview to answer questions about the $2 billion loss. “He wasn’t arrogant,” Daly said. “He was eating humble pie in front of Washington, and in the public eye.” Read More: http://go.bloomberg.com/political-capital/2012-05-18/praise-for-dimons-mea-culpa-strategy/