Who 'Matters' on Wall Street?

This morning, New York Times columnist Andrew Ross Sorkin puts his finger on the disconnect between average everyday folk and the Wall Street establishment with his assertion that, when it comes to criticizing JPMorgan-Chase (JPM) chief executive officer Jamie Dimon, some people “matter” and others don’t. The “pundit class,” as he put it, seems to want Dimon to resign in the face of multiple regulatory and criminal investigations, which have prompted the bank to set aside $23 billion for potential legal costs. The bank reported its first quarterly loss since 2004, and its first under Dimon, on Oct. 11. Dimon told analysts on the earnings call: “This is very painful for the company.”