- The Washington Times - Thursday, January 23, 2020

Rep. Alexandria Ocasio-Cortez posted a snarky tweet Thursday responding to a new interview by J.P. Morgan Chase CEO Jamie Dimon saying socialism leads to an “eroding society.”

“I honestly don’t think they understand what socialism is,” Mr. Dimon told CNBC at the World Economic Forum in Davos, Switzerland, after he was asked why an increasing number of young people are supporting socialist policies.

“Most state-owned enterprises don’t do a particularly good job,” he said. “You look around the world and they become corrupt over time.”

Mr. Dimon declined to weigh in on the brand of “democratic socialism” embraced by Democrats such as Sen. Bernard Sanders and Ms. Ocasio-Cortez.

“If you’re talking about governments controlling corporations, that’s socialism,” he said. “Once you do that, you will have an eroding society.”

Ms. Ocasio-Cortez, the youngest woman elected to Congress and an admitted democratic socialist, responded to a tweet by CNBC highlighting Mr. Dimon’s “eroding” comment.

“Saving this comment for the next time Wall Street asks for a $700 billion bailout from the federal government,” she wrote.

Mr. Sanders responded earlier with a similar tweet, writing, “That’s funny. Jamie Dimon seemed fine with corporate socialism when his bank got a $416 billion bailout from American taxpayers.”

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