Despite all the uncertainty, JPMorgan is setting out to rally employees and defend the economy. Insight with James Dimon, JPMorgan Chase president/CEO, who sheds light on his investment in Europe and why this is not the time to cut and run. He also adds that its the banks job to run business amid any market condition.
Some select quotes:
on Meredith Whitney: “I love Meredith and all that but, honestly, most of that stuff is hogwash,”
“the United States needs to show fiscal discipline. We need to show it for ourselves, not because of China, not because of S&P…I’m hopeful we can show that soon.”
“All businesses have things that change all the time—interest rates, commodity prices, cost of wages, demand, supply—and you have to manage around that,” Dimon said during a bus tour of California Chase branches. “That’s not to say there’s not negatives against banks. Bad economy is a headwind, volatility may not be but people being scared is a headwind.”
“We’ve been in Europe for hundreds of years,” . “We have manageable exposures to all the banks. We’re not going to cut and run.”
“I want to see America grow again,” says James Dimon, JPMorgan Chase president/CEO, who adds “We need a little bit of coherent, consistent, coordinated policy.”
If you know me at all, I am not suited for politics. Anyone who runs a company and gets out in the field would say the same things I do.”
Disclosure: No holdings in JPM
