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The question is how do you do it [more consumer protection] so that it actually works that way? And that takes analysis, and sometimes collaboration between government and business, to understand how that works.
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
Takes
Actually
Consumer
Understand
Collaboration
Business
Consumers
Government
Analysis
Sometimes
Protection
Way
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More quotes by Jamie Dimon
It's offensive to me to be called a cost cutter.
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
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
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.
Jamie Dimon
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
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.
Jamie Dimon
Companies that build scale for the benefit of their customers and shareholders more often succeed over time.
Jamie Dimon
We're going to do the right thing for the company and our customers, all things considered.
Jamie Dimon
When the government gets involved in pricing, I don't think it's the right way to look at a business.
Jamie Dimon
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.
Jamie Dimon
More people are working, lending is up and savings are up. These are all positive signs for a strengthening economy.
Jamie Dimon
Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures.
Jamie Dimon
We're diversified, we're stable and consistent. Our businesses benefit from each other.
Jamie Dimon
On Wall Street, there is no Wall Street there are individuals.
Jamie Dimon
I haven't studied it deeply, but the American banks started the crisis with far more capital and what I would call good liquidity. The riskiest funding is unsecured wholesale funding. It's the most fickle. Not repo, which the government focused on, too. Unsecured. JPMorgan Chase had almost none of that - virtually zero.
Jamie Dimon
We continued to build the business, even in the worst of times. We do business all over America.
Jamie Dimon
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.
Jamie Dimon
It can take a long time to get the rules in place that are conducive to growing, sometimes.
Jamie Dimon
The transaction reflects our disciplined strategy of investing capital in core businesses where we can leverage scale and expertise for competitive advantage. In addition to being a great strategic fit, the deal is compelling financially.
Jamie Dimon
Just because we're stupid doesn't mean everybody else was.
Jamie Dimon
