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The goal of what Japan's central bank is doing is to create growth. If it actually creates growth, in the long run, it will lead to appreciation.

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
Actually
Japan
Running
Central
Long
Creates
Appreciation
Lead
Growth
Create
Goal
Bank

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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.
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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.
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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.
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JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously its a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.
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That's probably good, all things being equal, for emerging markets, not bad, even though it may not be great for all their currencies.
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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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There are parts [in Dodd-Frank] that I don't agree with. But, in total, it is what it is.
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I do believe that some of these regulations made the markets more volatile, and it remains to be seen how bad that can be.
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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.
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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.
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If you went to all those little towns in America, JPMorgan was there in good times and bad times, and, in fact, helped a lot of people through the tough times. And we know that's when they need us the most.
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No one can forecast the economy with certainty.
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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.
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I don't mind paying higher taxes, because I've done quite well and I'm blessed to live in this country.
Jamie Dimon
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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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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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Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.
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Their [American banks] big issue will be if they want to deal with the biggest companies, which are doing a lot of business overseas. How they do that is a big question. It's almost impossible to build a global investment bank from scratch. If they want to do that, they probably will have to do an acquisition.
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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.
Jamie Dimon
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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.
Jamie Dimon