The New York Post reports that shareholders should have been disappointed when Dimon sang the blues on the bank’s quarterly earnings conference call, about how JPM and all 'banks are under assault' from regulators.
He also chastised his management team, saying the firm needs to 'stop stepping in dogs–t, which we do every now and then'. As the largest bank in the US, perhaps JPMorgan is not nimble enough to see and avoid the pitfalls.
He was telling his executives — many of whom were not in their current positions three years ago — to stop giving regulators the ammo they need to beat up on the bank.
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