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I am struck that so many of our leaders in the U.S. forget how strong our country can be.
Jamie Dimon
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Jamie Dimon
Age: 68
Born: 1956
Born: March 13
Banker
Business Person
New York City
New York
James Dimon
James Jamie Dimon
Forget
Strong
Country
Many
Struck
Leaders
Leader
More quotes by Jamie Dimon
The third arrow (of structural reform) is critically important. Japan has some of the best companies in the world, and if you look at their technology, their capability, it's extraordinary.
Jamie Dimon
Well, if you were the American public, you saw a catastrophe. In general, you would say, The biggest institutions of America - Washington, broadly, and Wall Street, broadly - they're to blame. And, broadly, they're right.
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I completely agree with the concept that American citizens shouldn't expect that a failure of a bank would cost them money, or that it would hurt the economy.
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I think what you've seen them do recently in the markets is what most of us learn doesn't ultimately work. But I think everyone has to figure that on their own.
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I think normalization is a good thing.
Jamie Dimon
Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.
Jamie Dimon
The government has the right to change laws and rules and regulations.
Jamie Dimon
We've accommodated the new rules and regulations. We've served our clients and had quite good returns.
Jamie Dimon
I agree with people who say we want more income equality we want more consumer protection and we want sounder banks. I agree with all that.
Jamie Dimon
If you were a corporation needing financial services, and I can give you something better, faster, and cheaper across 12 products as opposed to eight, that's business. I'm doing it because I'm serving you I'm not doing it because I want to be universal.
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I think the free-enterprise system has been great for society. That doesn't mean it's completely perfect. And also, when people say capitalism, I'm not really sure what they mean.
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It might be harder for us to charge a higher interest rate, like they do, so it might not be as profitable for us. But we can either compete or partner, like we've announced with On Deck, which does some of the stuff we just spoke about.
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Just because you have a good hand today doesn't mean it's good tomorrow. And some of the things we're doing may become very disadvantageous at some point.
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Any good job is a good job. This whole concept of a dead-end job? It's not true. I've heard it my whole life. Jobs lead to dignity. If you're good at the first, then you can get the second. Jobs lead to household formation. Jobs are a better solution for society.
Jamie Dimon
Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures.
Jamie Dimon
I'm a really big believer - this is not a statement about President [Barack] Obama, but whoever is president - that good policy is really important.
Jamie Dimon
Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera.
Jamie Dimon
I haven't studied it deeply, but the American banks started the crisis with far more capital and what I would call good liquidity. The riskiest funding is unsecured wholesale funding. It's the most fickle. Not repo, which the government focused on, too. Unsecured. JPMorgan Chase had almost none of that - virtually zero.
Jamie Dimon
Manipulating currencies is when you're going into the marketplace and buying something in large amounts to depress the value of the currency.
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Dodd-Frank and independent actions of banks go a long way in terms of progress on capital, liquidity, transparency, living wills (plans for winding down a bank in the event of a collapse) and resolutions.
Jamie Dimon
