JPMorgan's Dimon stirs ire of upstate NY students

JPMorgan Chase & Co Chief Executive Jamie Dimon speaks at the Stanford Institute for Economic Policy Research at Stanford University in Palo Alto, California March 12, 2010.

NEW YORK (Reuters) - On Wall Street, Jamie Dimon is considered a leader, but some students at Syracuse University in Syracuse, New York are not impressed.

Dimon, chief executive of JPMorgan Chase & Co, is the keynote speaker on Sunday at Syracuse University's commencement ceremony, much to the dismay of some students and their parents, who complain he represents an industry that caused the worst financial crisis since the Depression.

Students have collected about 1,200 names on an online petition entitled "Take Back 2010 Commencement," a number equal to about a quarter of the students graduating, although some of the signatories write on the website they are not current students, just people sympathetic to the cause.

"Dimon is part and parcel of a banking industry that robbed students of this generation of their hope of having a life as good or better than their parents," a group of Syracuse parents wrote in a letter to the university's newspaper.

A student identifying himself as "Delirium" posted a video on YouTube in which he raps in front of a group of people wearing mortarboards and robes protesting, holding signs such as "Mind over money" and "I'm angry."

To protest, Syracuse students say they are planning to remove their caps and gowns when Dimon speaks, according to the 'Take Back Commencement' group they launched on social networking site Facebook.

It is a far cry from the reception Dimon, 54, usually receives on Wall Street. A trade publication dubbed him "Banker of the Year" in 2009 and he was included in TIME magazine's 2009 list of the world's 100 most influential people.

Dimon's bank was one of the few to remain profitable during the financial crisis and when regulators were looking for a bank strong enough to take on troubled Bear Stearns in 2008, they turned to JPMorgan.

"Saying he's the best of the banking industry isn't exactly a ringing endorsement right now," class of 2010 student Kelsey Dyer told Reuters.

BIDEN, JOEL, DIMON

The bank opened a technology center for students at Syracuse last year and some students are concerned Dimon's appointment as speaker was a move by the university to curry favor. Some of these students said they were also concerned the speaker selection process was not transparent.

"It seemed like his spot was sort of bought and paid for with no regard for the students' wishes," Dyer said.

The university says the speaker was chosen by Syracuse University Chancellor Nancy Cantor from a list proposed by a committee of student marshals and student trustee representatives.

The list also included writer Maya Angelou, former British prime minister Tony Blair, actress Tina Fey and Microsoft co-founder Bill Gates, according to the university's newspaper, the Syracuse Daily Orange.

Vice President Joe Biden gave the address in 2009 and previous speakers include pop star Billy Joel and former New York City Mayor Rudolph Giuliani. Students also protested when Giuliani spoke in 2002, according to The Daily Orange.

There is a rich tradition of university students protesting against their commencement speakers. Chancellor Cantor, in a letter to students last month, wrote: "In my experience, virtually every commencement speaker arouses a broad array of reactions, in line with the diversity of interests, opinions, and passions on a university campus, though I understand that in this economic climate the concerns may be especially acute."

Dimon himself is unfazed by the kerfuffle. When asked last month about his response to the protest, he said that he had not expected to be a controversial choice as speaker, but added that "people should stand up for what they believe in." He still plans to attend the ceremony, a spokesman said on Friday.

Dimon will receive an honorary degree at the ceremony in the Carrier Dome on Sunday.

(Reporting by Elinor Comlay; editing by Carol Bishopric and Andre Grenon)