121st Edition
Jamie Dimon and Leadership
A couple of months ago, JP Morgan CEO, Jamie Dimon, predicted a financial crisis was inevitable if the U.S. did not do something to lower its federal debt which, by the way, is around $36 Trillion. According to a Wall Street Journal recap of his dire prognostications, Dimon said, “What I really worry about is us. Can we get our act together – our own values, our own capabilities, our own management?” That’s quite a question, isn’t it?
Let’s take it one issue at a time. First, what would getting our act together regarding values look like, exactly? I’ve written about that in numerous blogs so I’ll try to be succinct. A commitment to living a life of personal integrity, developing a service-before-self mindset, and trying our best to be Christ-centered in all we do would be a pretty good start. Are we ready for all that? Would Jamie Dimon be willing to lead that effort? I wish I could ask him, but I’m not sure he would respond to me.
Second, honing our own capabilities, in my mind requires a different sense of priorities. America is undeniably extraordinary in so many ways. With abundant natural resources, world-leading universities, individual freedom and the rule of law, America continues to be the engine that drives the world economy. Beyond that, America continues to offer freedom and opportunity for the oppressed and persecuted around the world. All that could change, according to Dimon if we don’t realign our capabilities. My sense is he means returning to free-market capitalism and rolling back the administrative state, reducing over-regulation, and eliminating crony capitalism. None of this is likely any time soon, but anything is possible, with the right leadership.
Third, what would a redesigned management philosophy look like? Servant leadership would be my recommendation. I recently finished the inspiring WWII diary of Lieutenant General James Gavin. He was one of the few paratroopers who made all four jumps with the 82nd Airborne Division into North Africa, Sicily, Normandy, and Holland. Even more impressive was that he was the first man out of the door of his plane on each historic jump. That is the epitome of servant leadership. Today, we could do with a lot more leaders like General Gavin.
Like values, leadership has been a popular topic in my blogs over the past two years. We need leaders like Dimon to step up, but our current political system isn’t designed to attract the best of the best. Sadly, this also isn’t likely to change any time soon.
So, when is this inevitable financial crisis likely to occur? Dimon says, “I just don’t know if it’s going to be a crisis in six months or six years.” No one knows and that is not a good thing.
Any student of history understands that whenever a country, community, or organization has the wrong values, anytime capabilities are misaligned or squandered, and whenever there is poor leadership, bad things eventually happen. Is our country’s demise inevitable? I don’t believe so, but transformative change has to occur. I hope it does in my lifetime. It would be very cool to write about it. I remain ever hopeful.
America has a history of producing just the right leader at just the right time. Lincoln, FDR, James Gavin, to name a few. People with vision and values and the courage to dream, yet always aware of something bigger than themselves. I’m reminded of the hopefulness and the unlimited potential that has been the hallmark of our country. Tom Hanks, who played Commander James Lovell in Apollo 13 summed it up well in the last lines of that unforgettable movie. “I sometimes catch myself looking up at the moon, remembering the changes of fortune in our long voyage, thinking of the thousands of people who worked to bring the three of us home. I look up at the moon, and wonder, when will we be going back, and who will that be?”
We are all in this together, yet God’s Kingdom is so much bigger than any of us can possibly imagine. And we can all be thankful for that.
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Michael Kayes
*These views are my personal opinions and are not the viewpoints of any company or organization.