Pompous Quotes from Jamie Dimon

May 11, 2012
J. Webster
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In light of the “hedged” trading loss of $2 billion, it’s fun to look back on JP Morgan CEO Jamie Dimon’s quotes from the past few years. The once praised and bowed down to banker doesn’t seems so bullet proof anymore. What’s more, these quotes come across as actually quite pompous. Really, it’s hard not to laugh the words that come out of Jamie Dimon’s mouth. The first one nobody’s going to forget.

“It’s a complete tempest in a teapot.”

“I have a great fear someone’s going to try to write a book in 20 years, and the book is going to talk about all the things that we did in the middle of the crisis to actually slow down recovery.”

“We, however, do disagree with some of the proposed specifics because we think they could have huge negative unintended consequences for American competitiveness and economic growth.”

“Newspapers — I went and got this one day just for fun — 42 percent payout ratio, which I just think is just damned outrageous.”

“Worse than that, you don’t even make any money!” Dimon said, directing his comments to those in the media covering the company’s investor day and drawing laughter from his audience. “We pay 35 percent. We make a lot of money.”

“I’ll be damned if we don’t have record profits in next year or two.”

“Giving debt relief to people that really need it, that’s what foreclosure is.”

“Has anyone bothered to study the cumulative effect of all these things?” he asked Bernanke. “Is this holding us back at this point?”

“We have one of the least consolidated banking systems in the world,” said Dimon. “Would it be great for America if Boeing and Caterpillar were to use Chinese banks?”

“Acting like everyone who’s been successful is bad and that everyone who is rich is bad — I just don’t get it.”

“I won’t feel bad if we lose $5 billion in Europe.”

“I’ve disagreed right from the beginning of this blanket blame of all banks,” Dimon said in an interview with Charlie Gasparino of the Fox Business Network Tuesday. “I don’t like that. I think that’s just a form of discrimination that should be stopped.”

“I think any American president, secretary of Treasury, regulator or other leader would want strong, healthy global financial firms and not think that somehow we should give up that position in the world and that would be good for your country.”

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