Jamie Dimon warns next crisis could see ‘more volatile’ markets
Tom Braithwaite in New York
Jamie Dimon, chief executive of JPMorgan Chase, said the next financial crisis should see “more volatile” markets and a “rapid decline in valuations” because regulators have hamstrung the banks.
In his annual letter to shareholders, Mr Dimon said recent schisms in Treasury and currency markets were a “warning shot across the bow”.
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He devoted three pages to a “thought exercise” on what might happen in the next crisis, warning that the ability of JPMorgan and other banks to act as shock absorbers had been dramatically hindered by new capital and liquidity rules.
Mr Dimon has been known as one of the few bank chief executives willing to challenge the regulatory architecture put in place since the 2008 crisis. Some of the individual warnings have been aired before but never woven into a Dimon crisis scenario.
https://www.ft.com/cms/s/0/58f40c9e-de2a-11e4-ba43-00144feab7de.html#axzz3Wo1mn2i7
Dimon should be in Leavenworth for the (financial) crimes he committed back in the 2000s….
It would be nice to see a few bankers in prison,but considering they just run back and fourth from Wall St. to DC kissing each others asses it will never happen.
Bernie Maddoff is doing time , perhaps more politicians and government employees should pay their dues first , we start with the meter thief
What crimes did Dimon commit? If my memory is correct, he was lauded by much of the media and the left for being one of the big guys that didn’t act as recklessly as the others did.