Yesterday Jamie Dimon explained why he’s been ripping into the country’s political (particularly regulatory) leadership in Washington, D.C. [via Politico M.M.]Because there is none!
At the IBM Think conference, Dimon said the reason the U.S. economy is stalled is because of uncertainty and lack of cooperation coming from the nation’s capitol.
“We fight over everything,” Dimon said during a panel at the IBM Think Forum in New York.
“Confidence, the secret sauce, just isn’t there.”
Earlier this month in an interview with the FT, Dimon lashed out and called new international bank capital rules “anti-American” and said the U.S. should consider leaving the Basel group of global regulators.
And again in June at the American Bankers Association conference in Atlanta, Dimon confronted Federal Reserve chairman Ben Bernanke with pointed questions about Basel III and Dodd-Drank during the Q&A session.
“We know there are 300 rules coming,” he told Bernanke. “Has anyone looked cumulative effect of all these regulations, and could they be reason it’s taking so long for credit and jobs to come back?” he asked the Federal Reserve chairman.
Dimon has made a name for himself for speaking out against regulations making many on Wall Street regard him as a heroic figure.
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