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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.
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
Regulation
Remains
Seen
Made
Believe
Volatile
Regulations
Markets
More quotes by Jamie Dimon
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On Wall Street, there is no Wall Street there are individuals.
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I also believe that most of the emerging economies have a fairly large amount of foreign exchange reserves, relative to 10 years ago.
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Just because we're stupid doesn't mean everybody else was.
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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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I think normalization is a good thing.
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Manipulating currencies is when you're going into the marketplace and buying something in large amounts to depress the value of the currency.
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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.
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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.
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All businesses tend to pass costs onto customers.
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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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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.
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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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Wall Street gives money to both [Democrats and Republicans] because they want to be on the good side of whoever becomes president .
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Don't do anything stupd. And don't waste money. Let everybody else waste money and do stupid things then we'll buy them.
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We take smaller companies and middle-sized companies, all around the world, and we do currency exchange for them we raise bonds and equities for them and we do inventory finance, trade finance, and custody of assets.
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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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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.
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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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