Bill Cohan, Columnist

Debt-Ceiling Derangement: My Chat With Jamie Dimon

Â Now that a debt default is looming larger and larger on the horizon, Dimon shared his thoughts with me in a brief conversation on Tuesday afternoon.

October 9, 2013 at 7:57 PM UTC

By Bill Cohan

William D. Cohan, a Bloomberg View columnist, is the author of the forthcoming "The Price of Silence: The Duke Lacrosse Scandal, the Power of the Elite and the Corruption of Our Great Universities," as well as "Money and Power: How Goldman Sachs Came to Rule the World" and the New York Times best-sellers "House of Cards" and "The Last Tycoons." Cohan is a contributing editor at Vanity Fair and writes frequently for the Financial Times, Fortune, the Atlantic and the Washington Post. He worked on Wall Street as a senior mergers and acquisitions banker for 15 years. He also worked for two years at GE Capital. Cohan is a graduate of Duke University, Columbia University School of Journalism and Columbia University Graduate School of Business. "The Last Tycoons" won the 2007 Financial Times/Goldman Sachs Business Book of the Year Award.

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To paraphrase the old E.F. Hutton commercials, "When Jamie Dimon talks, people listen."

Dimon, the chairman and chief executive officer of JPMorgan Chase & Co., was one of the group of Wall Street honchos who met with U.S. president Barack Obama last week to talk about all the reasons that it's a really bad idea for Congress to use raising the debt ceiling as a political bargaining chip. Now that a debt default is looming larger and larger on the horizon, Dimon shared his thoughts with me in a brief conversation on Tuesday afternoon.