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There are parts [in Dodd-Frank] that I don't agree with. But, in total, it is what it is.
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
Dodd
Frank
Total
Parts
Agree
More quotes by Jamie Dimon
The government has the right to change laws and rules and regulations.
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Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures.
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JPMorgan Chase are among the most successful global investment banks, most successful global asset managers, and, in the United States, one of the most successful retail and commercial bankers. We do a great job for customers.
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It can take a long time to get the rules in place that are conducive to growing, sometimes.
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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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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
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.
Jamie Dimon
We've accommodated the new rules and regulations. We've served our clients and had quite good returns.
Jamie Dimon
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 completely agree with the concept that American citizens shouldn't expect that a failure of a bank would cost them money, or that it would hurt the economy.
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Good regulation should be conducive to business and to customer protection.
Jamie Dimon
You've seen certain credit type products that are going to be in nonbanks, like sophisticated CLO [collateralized loan obligation] tranches and stuff where the capital charge is so high that a bank simply will not own it. Someone will buy it, hedge it, trade it. But it won't typically be a bank.
Jamie Dimon
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
I think the free-enterprise system has been great for society. That doesn't mean it's completely perfect. And also, when people say capitalism, I'm not really sure what they mean.
Jamie Dimon
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
I'm a really big believer - this is not a statement about President [Barack] Obama, but whoever is president - that good policy is really important.
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
If business doesn't thrive, it hurts America. We need improved relations, more collaboration, more thought and more consistency as we go about trying to make sure we have the best country in the world. Not scapegoating and finger-pointing.
Jamie Dimon
We're diversified, we're stable and consistent. Our businesses benefit from each other.
Jamie Dimon
We invested in the downturn and we never stopped serving our clients.
Jamie Dimon
