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Jamie Dimon’s perp walk: Why it could be this year’s Christmas miracle

The crowd waited impatiently outside 270 Park Avenue, corporate headquarters of JPMorgan Chase. Photographers readied their cameras. Then, the murmuring grew into a low roar. There was CEO Jamie Dimon, accompanied by two FBI agents. His hands were tied behind his back, held together by handcuffs. As flashbulbs popped, the agents guided Dimon into an awaiting vehicle, and drove off to take him into police custody.

Christmas miracle? It doesn’t have to be. Even putting aside the rap sheet of crimes committed by JPMorgan Chase over the past several years for which its CEO can be said to be ultimately responsible, just a week ago, Jamie Dimon explicitly violated a federal statute that carries a prison sentence. That he’s a free man today, with no fear of prosecution, doesn’t only speak to our two-tiered system of justice in America. It should color our perceptions of new rules and regulations that supposedly “get tough” on the financial industry, as we recognize that any law is only as strong as the individuals who enforce them.

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