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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
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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
American
Street
America
Blame
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Institutions
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Broadly
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Washington
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More quotes by 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.
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Good regulation should be conducive to business and to customer protection.
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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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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.
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We, Americans, have the best country on the planet. We have schools, universities, food, water, energy, peaceful neighbors, low corruption, you name it, deepest and widest capital markets. That doesn't mean we shouldn't identify problems. We don't have a divine right to success.
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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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We continued to build the business, even in the worst of times. We do business all over America.
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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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I have gotten disturbed at some of the Democrats' anti-business behavior, the sentiment, the attacks on work ethic and successful people. I think it's very counter-productive.
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Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures.
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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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The government has the right to change laws and rules and regulations.
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I think the politics have gotten better in the United States, which makes it easier to pass legislation, budgets and treaties.
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I know the President [Barack Obama]. I like him and respect him. That does not mean I agree with all of our government's policies, whether they come from Democrats or Republicans.
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We represent companies from around the world who say, I want to look at Japanese companies. I want to invest in Japan.
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I do want the tax system to be efficient and be conducive to growth, which it is not.
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Economies of scale are a good thing. If we didn't have them, we'd still be living in tents and eating buffalo.
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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
And if you're going to be a leader, you know what I ask myself? Would I want to work for you in this job? Would I let my children work for you? Would I give you this job if I wasn't there to provide oversight? If you went to run another company, would I, as an investor, invest in that company?
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The term too big to fail must be excised from our vocabulary.
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