Cross-posted from Zero Hedge
Just days after being appointed to Trump’s “Strategic and Policy Forum,” JP Morgan CEO, Jamie Dimon, has been named Chairman of Business Roundtable. Obviously, this is yet another prominent D.C. position for Wall Street just as Trump gets set to take the White House amid promises to “drain the swamp.”
Per a press release posted to the Business Roundtable website, Dimon will take over the Chairman position from Doug Oberhelman, the CEO of Caterpillar, and will serve a two-year term that will last through December 21, 2018.
“Jamie is one of the most accomplished business leaders in America,” Oberhelman said. “He is a strong and positive force for sound economic policies and the need for a diverse and skilled workforce. His depth of understanding and optimistic vision of America’s future make him exactly the right person to lead Business Roundtable to work with the new Administration and Congress.”
“It is an honor to be selected to lead Business Roundtable,” Dimon said. “Given the quality and diversity of its membership, the organization is uniquely positioned to advocate for meaningful solutions that create economic growth and opportunity for all. With a new President and Congress soon to take office, there is a real opportunity for Business Roundtable to be a positive influence and show how business plays a critical role in this growth.
“The results of the U.S. election reflected in some part the frustration that so many people have with the lack of economic opportunity and the challenges they face. By helping to bridge the divide between political parties and working collaboratively to find solutions, Business Roundtable can play a key role in fostering economic mobility and sustained growth. Working together, the business community and government can foster a healthy and vibrant business climate that creates opportunity for everyone in this country.
“I want to thank Doug for his leadership at Business Roundtable and as an effective advocate for what’s best for the country — a strong economy, people working in good-paying jobs and a business climate that supports investment and innovation.”
For those not familiar with the organization, Business Roundtable promotes itself as an association of nearly 200 CEOs who “promote policies to improve U.S. competitiveness, strengthen the economy, and spur job creation.”
Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.
Business Roundtable CEO members lead companies with more than $6 trillion in annual revenues and nearly 15 million employees. The combined market capitalization of Business Roundtable member companies is the equivalent of nearly one-quarter of total U.S. stock market capitalization, and Business Roundtable members invest $103 billion annually in research and development – equal to 30 percent of U.S. private R&D spending. Our companies pay $226 billion in dividends to shareholders and generate $412 billion in revenues for small and medium-sized businesses annually. Business Roundtable companies also make more than $7 billion a year in charitable contributions.
Established in 1972, Business Roundtable applies the expertise and experience of its CEO members to the major issues facing the nation. Through research and advocacy, Business Roundtable promotes policies to improve U.S. competitiveness, strengthen the economy, and spur job creation.
For a D.C. swamp that was supposed to be drained in just over a month a lot of wall street’s most prominent swamp dwellers seem to be finding new homes there…