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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.
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
Talk
Legitimately
Strong
Bank
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Reform
Government
Chinese
Like
Universal
Wants
Economy
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More quotes by Jamie Dimon
Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures.
Jamie Dimon
Part of [Japanese companies] growing and expanding around the world is ... going to help the Japanese keep their lifestyles [despite Japan's] demographics, as a declining population, and [to] make it more conducive to women to go to work, I think, is a plus.
Jamie Dimon
But in general, as countries get wealthier, there's going to be more savings, which means you're going to have intermediation. So part of it is just the huge growth in wealth, and part of it was globalization - these companies, these clients getting much bigger and much more global.
Jamie Dimon
Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.
Jamie Dimon
I hate the word universal, because I don't know exactly what it means. The question is, does it work for the client? Travelers was a diversified, financial conglomerate that did very well. The businesses had nothing to do with each other.
Jamie Dimon
You have your own culture and your own ways of doing things. I hope Japan continues on this path.
Jamie Dimon
If I ran the whole place like it was my way or the highway, we would not be as good a company. I'm going to have mistakes - they'll be made on my watch and will embarrass me. But I'll also make sure the company learns from them so it can become a better company.
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.
Jamie Dimon
All our clients know that we're there, we're steady, we do a good job, we earn a fair return for ourselves, which I think is critical.
Jamie Dimon
Just because we're stupid doesn't mean everybody else was.
Jamie Dimon
No one can forecast the economy with certainty.
Jamie Dimon
I don't think that [normalization] necessarily is going to damage the emerging economies.
Jamie Dimon
Good regulation should be conducive to business and to customer protection.
Jamie Dimon
I believe it's a good thing that people say, Can we find a way to live together in peace? And they did, for the most part.
Jamie Dimon
I advise other companies' CEOs, don't fall into the trap where you go, 'Where's the growth? Where's the growth?' Where's the growth?' They feel a tremendous pressure to grow. Well, sometimes you can't grow. Sometimes you don't want to grow. In certain businesses, growth means you either take on bad clients, excess risk, or too much leverage.
Jamie Dimon
If you have the choice, it's far better to say, That person has the job, and they really don't need that much of my oversight. Maybe they don't need any of it.
Jamie Dimon
If the government wants to do social policy, it should not be done in a quasi-public company. If you have a mortgage guarantee company which is done by the U.S. government, it should be guaranteed by the originators, i.e., the shareholder.
Jamie Dimon
Companies are returning a lot of money to shareholders through dividends and buybacks. And a lot of people say that's not a good use of capital. I think that's normal reallocation of capital.
Jamie Dimon
We've accommodated the new rules and regulations. We've served our clients and had quite good returns.
Jamie Dimon
When the government gets involved in pricing, I don't think it's the right way to look at a business.
Jamie Dimon
