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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
Struck
Leaders
Leader
Forget
Strong
Country
Many
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When the government gets involved in pricing, I don't think it's the right way to look at a business.
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My operating assumption is we will always have very tough competition. And even with some European banks struggling right now, some of them can reemerge - and maybe even stronger.
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The yen is trading where it's trading because people are guessing about people's future interest rates, dollar and yen and about the future growth potential of the economies. And, if this policy works, then the yen will probably strengthen.
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Don't do anything stupd. And don't waste money. Let everybody else waste money and do stupid things then we'll buy them.
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The real story in housing will be a recovery in the economy that will drive a recovery in housing, When people are working, when there are more jobs, more households forming and people go back to buying cars, they're going to want their apartments and homes. And that's when you'll start to see a recovery in home prices.
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You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way.
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It's great that people get together and collaborate, talk about the facts and the analysis, all in the interest of having a great financial system.
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On Wall Street, there is no Wall Street there are individuals.
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You cannot prove this in real time, but when economists 20 years from now write a book on the recovery, it may well be entitled, It could have been much better.
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The question is how do you do it [more consumer protection] so that it actually works that way? And that takes analysis, and sometimes collaboration between government and business, to understand how that works.
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We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.
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I don't like the term universal bank. The Chinese government legitimately wants to have a very strong economy. When they talk about SOE reform, they know that's part of it.
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Japan, Europe, [and] America probably [are] better than last year [2015], not China.
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Our plate is full. We have a lot to do building our company organically and that is our key focus.
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My father and grandfather were stockbrokers, and they would actually take stock certificates from a vault, give it to a runner, and send it to another vault. Then somebody said, Let's digitize it and have one vault. Now the DTCC clears and settles almost everything, and the cost of doing a trade is a tenth of what it was before.
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It can take a long time to get the rules in place that are conducive to growing, sometimes.
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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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The transaction reflects our disciplined strategy of investing capital in core businesses where we can leverage scale and expertise for competitive advantage. In addition to being a great strategic fit, the deal is compelling financially.
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I wanted to start by saying that the eurozone - there are two reasons they formed the European Union. One is for political peace and rationalization. And I think that's a good thing for a continent that went through hundreds of years of wars.
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