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Dodd-Frank and independent actions of banks go a long way in terms of progress on capital, liquidity, transparency, living wills (plans for winding down a bank in the event of a collapse) and resolutions.
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
Plans
Resolution
Dodd
Events
Bank
Liquidity
Progress
Frank
Winding
Term
Capital
Resolutions
Living
Event
Wills
Action
Actions
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Long
Independent
Banks
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More quotes by Jamie Dimon
People always say to me, What if it doesn't work? If it doesn't work, we redouble our effort. We're not going to cry like a bunch of babies. We're going to redouble our effort.
Jamie Dimon
We invested in the downturn and we never stopped serving our clients.
Jamie Dimon
Just because we're stupid doesn't mean everybody else was.
Jamie Dimon
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.
Jamie Dimon
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.
Jamie Dimon
It might be harder for us to charge a higher interest rate, like they do, so it might not be as profitable for us. But we can either compete or partner, like we've announced with On Deck, which does some of the stuff we just spoke about.
Jamie Dimon
I am struck that so many of our leaders in the U.S. forget how strong our country can be.
Jamie Dimon
I think normalization is a good thing.
Jamie Dimon
There are parts [in Dodd-Frank] that I don't agree with. But, in total, it is what it is.
Jamie Dimon
Dodd-Frank is 2,000 pages long. It covers thousands of rules, regulations, interpretations and things like that.
Jamie Dimon
We've accommodated the new rules and regulations. We've served our clients and had quite good returns.
Jamie Dimon
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.
Jamie Dimon
I'm not going to name anybody, but I think there are about five to 10 global institutions that will emerge as our primary competitors across the board. They're adjusting to this new world, like we are.
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
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
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.
Jamie Dimon
I do want the tax system to be efficient and be conducive to growth, which it is not.
Jamie Dimon
I was a normal human being, but I did like that. I read a lot. I also liked math and science.
Jamie Dimon
One of the issues with some of these lenders is going to be, where will their provider of credit be when there's a crisis? That's why some of these smarter services, to support their operations, are courting more permanent capital. They want a source of longer-term funding that can survive a crisis.
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
