Jamie Dimon Comes Out Fighting (Again)

Jamie Dimon

Our Jamie (JPMorgan Chase CEO Jamie Dimon) was at the US Chamber of Commerce this week, giving the authorities both barrels as usual.

Here's some of the things he had to say:

On US capital requirements

'If you want to set it so high that no bank ever goes bankrupt....I think that would greatly diminish growth.....You're pretty much putting the nail in our coffin for big American banks'.

On regulation in general

'We don't want to throw the baby out with the bathwater. This is still the best system in the world....Let's not destroy that'.

On the Dodd-Frank swap spin-off legislation

'One of the most irrational pieces of legislation I've ever seen'.

On the number of US regulators

'We had too many regulators, too many gaps and too much overlap...We added more..It's even more complicated now'.

But our favourite Dimon quip is included in this exchange:

Thomas Donohue, President & CEO, US Chamber of Commerce: 'We both recently came back from China'.

Dimon: 'One of us went to Japan too'.

Sources - Reuters, The Financial Times, The Wall Street Journal

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