Jamie Dimon just wrapped up his appearance at the DealBook conference.Our notes are below, but the gist is this: We’re very close to a booming economy of 4 per cent growth, and 200K new jobs per month. We just need to do some basic fiscal stuff, and not screw it up.
We’re taking notes during his Q&A. Anything not in direct quotes.
— Says odds are politicians will do something between December 21 and December 28.
— On the impact of going over the cliff it might not be horrible… but it might be.
— ‘We are one decision away from restoring our moral and fiscal authority in the world…. let’s just do it.”
— With confidence, stability, good decisions, we could be a few months away form 4% growth and 200K new jobs per month. Says the table is set. Consumer is ready. Housing is turning.
— Says relationship with White House is “fine” but that it’s good that The White House is reaching out more.
— Asks about perception of Wall Street. Dimon is proud of Wall Street. Notes that two former governors of Illinois are in jail. Dimon tells Sorkin: “I don’t judge you because someone was a bad reporter at The New York Times a couple years ago.”
— Sorkin: “How do you think about money?” Is it true that you said as a kid that you wanted to be rich.
“I don’t like that we have increasing inequality in The United States.” Biggest problem: Inner-city education. Minorities not getting opportunities.
— The US is still the best place in the world to do business. Huge opportunities in the world.
— Dimon: If you could only invest in one country in the world, it would be the US.
— Dimon slamming stupid immigration policies, where we’re pushing “the best and the brightest” immigrants away.
— On energy: Fracking is safer than wells in the Gulf, or sending soldiers to die overseas for wars over oil.
— Dimon: There are 7000 lobbyists in Washington DC, and the financial industry has 35 of them. That is DEMOCRACY. And it’s offensive that banks wouldn’t be able to be part of that. It’s in the 1st Amendment.
— Sorkin asks about whether Dimon would be a good Treasury secretary: “I don’t believe I’m suited to it… and I don’t believe a Wall Street CEO could get confirmed.”
EARLIER: We’re here LIVE at the DealBook conference, hosted by Andrew Ross Sorkin and the NYT’s DealBook.
First up is Jamie Dimon.
We’ll be covering here LIVE.
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