Jamie Dimon Spars With Analyst - 'That’s Why I’m Richer Than You'

Mike Mayo On The Phone Still

Way to go, Jamie.

Dominic Chu reports on an exchange Tuesday during a call, between Credit Agricole Securities Analyst Mike Mayo and JPMorgan CEO Jamie Dimon over capital ratios.

'What I hear UBS saying in their presentations is, ‘If I’m an affluent customer, I’ll feel a lot better about going to UBS knowing that they have a 13% capital ratio than another big bank with a 10% ratio', said Mayo. 'Do you agree with that or disagree ?'

Dimon countered, 'So you would go to UBS' rather than JPMorgan ?

'I didn’t say that', Mayo responded. 'I said that was their argument'.

'That’s why I’m richer than you', Dimon said, drawing laughter from the audience.

Chu speaks on Bloomberg Television's Street Smart.

Source: Bloomberg

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