In a bold stand for ethical restraint, or at least plausible deniability, JPMorgan Chase CEO Jamie Dimon announced Wednesday that the bank will not donate to the White House’s new ballroom construction project, built on the rubble of the East Wing.
“We have to be careful how anything we do is perceived,” Dimon told CNN’s Erin Burnett. “Especially when perception keeps us out of federal prison.”
Dimon clarified that JPMorgan’s hesitation wasn’t about money, after all, the company made $50 billion last year, but about optics. “It’s just hard to explain to the next Department of Justice why we paid for a chandelier over the Situation Room.”
The White House said donations were voluntary, but sources noted Goldman Sachs had already offered to sponsor the champagne fountain. Dimon, meanwhile, said JPMorgan would continue focusing on “lower-risk ventures,” like restructuring democracy through debt.
