Zitat des Tages von Jamie Dimon:
The government has the right to change laws and rules and regulations.
I am not interested when people refer to a quarter or this year because the way I look at a country is what are its prospects over the next 20-30 years, and India's are good.
The term 'too big to fail' must be excised from our vocabulary.
You know, the benefit in life is to say, 'Maybe you made a mistake, let's dig deep.'
JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously it's 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.
No one can forecast the economy with certainty.
In America, we have a two-party system, and the American Constitution is a piece of brilliance, but they did not know when they set it up we would just have a two-party system. It just so happens that our electorate pushed towards the two-party system because it's a very good way to govern.
You can design a mortgage system that is different without a Fannie and Freddie, but there are principles you have to have, to have a good system.
I have gotten disturbed at... some of the Democrats' anti-business behavior, the sentiment, the attacks on work ethic and successful people. I think it's very counter-productive.
You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way.
I hope the story of 2011 is that America gets its mojo back. You've got to remember that America has the best universities; it's got some of the best businesses. It's got an unbelievable work ethic, rule of law. The story of 2011 will be America blossoming again.
All businesses tend to pass costs onto customers.
Walk into a Chase branch and we can give you so much quicker, better and faster. Like Wal-Mart.
You can compromise without violating your principles, but it is nearly impossible to compromise when you turn principles into ideology.
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.
We support too big to fail. We want the government to be able to take down a big bank like JP Morgan and it could be done. We think Dodd-Frank, which we supported parts of, gave the FDIC the authority to take down a big bank.
Capping the size of American banks won't eliminate the needs of big businesses; it will force them to turn to foreign banks that won't face the same restrictions.
Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more quickly and at less cost; for the businesses that are our customers; and for the economy as a whole.
It is true that too many people are not getting a fair opportunity to get ahead. We must find ways to help them move up the economic ladder, and everyone - business, government, and nonprofits - needs to play a role.
I am struck that so many of our leaders in the U.S. forget how strong our country can be.
We are totally open kimono with regulators.
Trade is very good for the country. It's very good for the GDP. It's good for wages, but it doesn't mean it's always good for every business. So we should have trade assistance, which is about relocation, re-education, and training.
The best way to look at any business is from the standpoint of the clients.
Economies of scale are a good thing. If we didn't have them, we'd still be living in tents and eating buffalo.
It's great that people get together and collaborate, talk about the facts and the analysis, all in the interest of having a great financial system.
The United States has the best, deepest, widest, and most transparent capital markets in the world which give you, the investor, the ability to buy and sell large amounts at very cheap prices. That is a good thing.
If the government wants to do social policy, it should not be done in a quasi-public company. If you have a mortgage guarantee company which is done by the U.S. government, it should be guaranteed by the originators, i.e., the shareholder.
When people blanket a whole class of people with statements, I just think that is unfair to everybody. I could do the same thing about media. I can do the same thing about politicians or lawyers, and they're just never accurate.
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.'
If the economy grows, housing gets better, quicker.
While legislation obviously is political, we now have allowed regulation to become politicized, which we believe will likely lead to some bad outcomes.
When the government gets involved in pricing, I don't think it's the right way to look at a business.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
It is vital for officials and regulators to have input from people within our businesses who understand the intricacies of how financial markets operate and the consequences of certain policy decisions.
If you're blindly loyal to me, then you're just acting like a crony of mine. If you say you admire me because of the principles for which I stand, I understand that, but then you also have the right to call me to the carpet when you think I'm falling short.
If you're making all your money simply betting on interest rates, that's not a business. Flow is a business. On the outside, they look the same for a while. But when you dig into them, no, they weren't exactly the same.
