Syracuse University's (SU) recent decision to have Chairman and Chief Executive Officer of JPMorgan Chase & Co. Jamie Dimon (LA '78) as the keynote speaker at its Commencement ceremony has raised a significant amount of controversy within the university's community. Students, alumni and members of the SU community at large have formed a group - Take Back 2010 Syracuse University Commencement - to protest the choice. The group has collected over 900 signatures on an online petition protesting Dimon as this year's speaker.
Referring to the controversial role that the banking industry has played in the financial crisis of the past few years, those who disagree with the school's decision argue that in light of the current economic recession and the impact it has on college students, choosing Dimon is insensitive to those students who have suffered or may once they graduate.
While some Syracuse students recognize that Dimon is "one of the good guys," they insist that they must stand up for their classmates who have had to take out more student loans, work extra jobs or even drop out of college because of the financial burden tuition created - approximately 80 percent of SU students receive some form of financial aid. Many of these students claim that Dimon, who clearly represents the banking industry and its role in the economic recession, regardless of his personal role in causing the financial crisis, could not possibly have a relevant message for those students who are struggling to pay for college and to find jobs.
In response to the considerable objection to his impending speech, Dimon has stated that while he understands and has considered the disapproval expressed by SU students, he still plans to deliver a hopefully empowering speech in Syracuse on May 16. President Barack Obama has supported Dimon's actions in the financial sector, stating in February 2009 that Dimon should not be punished for his company's success during the trying financial times. Additionally, JPMorgan Chase has longstanding ties with SU. In 2007, the company and the university worked together on a program in Global Enterprise Technology, and in October 2009 the $30 million JPMorgan Chase Technology Center opened on the SU campus, allowing students to work collaboratively with bankers on research projects.
JPMorgan Chase, which recently reported a $3.3 billion gain for the first quarter, can be seen as a prime example of succeeding in the face of troubling times. This is an important message for graduating seniors about to enter one of the most difficult job markets ever. Additionally, Dimon, whose effective leadership allowed JPMorgan Chase to become one of the first banks to pay back its federal aid, will be able to offer graduates keen and novel insight into the current financial scene. This speech may be particularly exciting for graduates from Syracuse's business school, the Whitman School of Management. Syracuse has not had a Commencement speaker from the business field in 20 years, so Dimon's speech will certainly be fresh and applicable.
People are often surprised to realize that those they differ from the most are often incredibly astute and competent individuals who have simply arrived at a different conclusion. As long as it is delivered with tact and prudence, Dimon's speech is an opportunity for SU graduates to better understand from someone directly involved why the recession happened the way it did. In addition to the salient message of succeeding in challenging times, Dimon's speech will, for some students, be the first of many opportunities to learn from those who challenge and upset us the most and to enter the real world with a more holistic, open perspective.
