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You have your own culture and your own ways of doing things. I hope Japan continues on this path.
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
Way
Things
Continues
Japan
Ways
Path
Hope
Culture
More quotes by Jamie Dimon
We continued to build the business, even in the worst of times. We do business all over America.
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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 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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I am not embarrassed to be a banker. I am not embarrassed to be in business.
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The term too big to fail must be excised from our vocabulary.
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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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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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India is a huge democracy. Prime Minister [Narendra] Modi has ambitions to try to fix the infrastructure, the rules, taxes, education, and to lift up the Indian people. And we're hopeful that that's going to create positive momentum.
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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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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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Most CEOs are patriotic and most CEOs can see the problems in front of them, and they want to do something about it. We don't always agree about the ways and means, but the objective? We're totally together.
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We've accommodated the new rules and regulations. We've served our clients and had quite good returns.
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There are parts [in Dodd-Frank] that I don't agree with. But, in total, it is what it is.
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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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Finance went from being a small business, effectively, to being a big business. In part, that's the growth of the world's wealth. That's called savings.
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JPMorgan was already, for the most part. Our businesses at JPMorgan share the same cash-management systems. The commercial bank, the private bank, the retail bank, they all use the branches. The cash-management system moves the money around the world - for global corporations, and for you, the consumer, too.
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I don't think that [normalization] necessarily is going to damage the emerging economies.
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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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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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