Conservative acting legend James Woods warned JP Morgan CEO Jamie Dimon that he better “come in heavy” after the banking chief threatened to seize private property to fight climate change.
The story originated from a Daily Fetched report from April this year, where JPMorgan Chase CEO Jamie Dimon called on the government to seize private property to fight “climate change.”
Dimon faced massive backlash after calling corporations to seize citizen-owned property to enact climate initiatives.
“You better come in heavy, champ,” Woods told Dimon in a tweet.
In a letter to shareholders, Dimon began by admitting the largest bank in the U.S. is not to the ills currently afflicting America.
“Across the globe, 2022 was another year of significant challenges: from a terrible war in Ukraine and growing geopolitical tensions — particularly with China — to a politically divided America,” Dimon said in his opening remarks.
“Almost all nations felt the effects of global economic uncertainty, including higher energy and food prices, mounting inflation rates and volatile markets, and, of course, COVID-19’s lingering impacts.
“While all these experiences and associated turmoil have serious ramifications on our company, colleagues, clients and the countries in which we do business, their consequences on the world at large — with the extreme suffering of the Ukrainian people and the potential restructuring of the global order — are far more important,” he added.
The concern came after Dimon brought up eminent domain under the section titled “Update on Specific Issues Facing Our Company” under the “Climate Complexity and Planning” subsection.
So what does that mean?
‘Eminent domain‘ is the legal term that grants the government the power to seize private property for public use, which is what the JPMorgan CEO is referring to.
Dimon added that the need to “align across a series of practical policy changes” includes private property seizure.
“At the same time, permitting reforms are desperately needed to allow investment to be done in any kind of timely way,” Dimon continued. “We may even need to evoke eminent domain.”