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.
— Jamie Dimon
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.
I don't buy this thing that our industry is responsible for all the ills of the world. We have great people at JPMorgan Chase. We operate with a lot of rigor. Our clients are happy with us.
In the old days, you dealt with one regulator. Now it's five or six. You all should ask the question how American that is.
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.
There are downsides to a lot of things. There are downsides to flying - people die every now and then. Do you want to stop all air flights? There are downsides to pharma; sometimes they're misused. Do you want to stop using pills?
The problem is not that the U.S. economy won't be able to take care of its citizens - it is that taking away benefits, creating intergenerational warfare, and scapegoating will make for very difficult and bad politics. This is a tragedy that we can see coming. Early action would be relatively painless.
Abraham Lincoln never denigrated, never scapegoated, never finger-pointed. And he had reason to.
You wonder, 'How could it possibly be me?' Well, of course it could happen to you. You have it. Then, of course, you wake up every morning, and you hope it's a bad dream. Then you wake up. I have cancer.
Donald Trump has put some professional people around himself. Experienced. Successful. I know a lot of people seem to think that success and experience are reasons you shouldn't serve in public office. But they are knowledgeable and smart, and they've been around the world.
There are legitimate concerns long term, in my view, about nuclear war and policy and stuff like that. But the world has become a better place every 20 years for the last 2,000 years.
America is best when we come together with clear leadership, expertise, and the political will to take on difficult challenges and get things done. No one should ever doubt the strength and resilience of our country and our democracy.
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.
We don't have a divine right to success. So I agree with a lot of politicians out there when they say, 'We've got serious issues.' We do: immigration, infrastructure. I think income inequality's one of them.
I've seen people, when they get into these bigger and bigger jobs, it goes to their heads. I've seen it. Some people in life change who they are, and some don't. I'm basically the same guy I've always been.
The denigration of business hurts America, because the secret sauce for our economy is confidence. I don't want to hear that nonsense that all business is bad.
I'm a little bit of an eternal optimist. People always say to me, 'If you go do this and it fails, what are you going to do?' I don't care. I'm going to give it my best shot. That's what I'm going to do. If it doesn't work, it doesn't work. And I'll try again.
I would love to be the president of United States, and I think I would be good at it, but it's too late, and it is too hard.
I am not responsible for the financial crisis, I hate to tell you.
Some things never change - there will be another crisis, and its impact will be felt by the financial markets.
Among those people not graduating, there might be a Steve Jobs or Barack Obama. We'll never know.
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.
Most decisions are not binary, and there are usually better answers waiting to be found if you do the analysis and involve the right people.
My retirement date, every time you ask me that, I'm going to say five years. I don't want to retire.
It's really important that policy be properly designed. It's not enough just to.. .get angry over a subject.
That's my contribution - running a sound, healthy company that serves millions of customers well and employs hundreds of thousands of people. What else am I going to do? I'm not an artist. I'm not a writer. I'm not a musician. I'd love to be a tennis player or musician. I'm not.
I think that technology is the best thing that ever happened to mankind. It's an absurd notion that somehow, 'My God, what are we going to do when driverless cars come along?' It's going to save lives on the road. And maybe, one day, we'll all be working four days a week and not five or six days a week.
In America, you keep on hearing productivity is low; secular stagnation, it's a new normal. It's just not true: We've had multiple wars; we're not educating our kids. We had government shut downs, badly-spent money, failures in the health system, failures and an extreme amount of regulation - that's why we're going slow.
We are going through a period of profound political and economic change around the world, and American citizens showed that deep desire for change in voting to elect Donald Trump as the 45th President of the United States.
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.
I get to deal with presidents and prime ministers and - and employees from tellers on up. And I love it.
First of all, I yell very little, just so you know. Maybe years ago I did more, but I yell very little.
I think it's a mistake for the American public to constantly be told that if you work for an oil company or you work for a bank, that automatically makes you bad. I think a lot of these people are very qualified people who are patriots. They're going to want to help the country.
Everything needs to work at the same time. But what keeps society vibrant permanently is jobs, industry, business, and stuff like that. It pays for everything else. If you just build affordable housing, and those people don't have jobs, it'll no longer be affordable soon. So you really have to build around the business community.
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.
People and companies make mistakes. I guarantee we'll make a mistake next quarter. So what? Businesses make mistakes. Hopefully smaller, and fewer.
I'm very close to thinking the United States shouldn't be in Basel any more. I would not have agreed to rules that are blatantly anti-American. Our regulators should go there and say, 'If it's not in the interests of the United States, we're not doing it.'
Americans should understand that 50%, or something like, of the kids in inner-city schools, often poor and often minority, don't graduate. And the ones that do don't necessarily have the skills to get a job. That is the biggest disgrace in this country.
Virtual currency, where it's called a bitcoin vs. a U.S. dollar, that's going to be stopped. No government will ever support a virtual currency that goes around borders and doesn't have the same controls. It's not going to happen.
You can compromise without violating your principles, but it is nearly impossible to compromise when you turn principles into ideology.
America has the best hand ever dealt to any country on this planet, ever. Yes, we have problems, but you travel around the world, you'll see we have it all.
Until Donald Trump got to where he was, they said you'll never see a rich businessman who's never been in politics be president. I clearly was wrong about that.
As American citizens, if you believe all banks were bailed out, you would hate banks. I would, too.
When my grandfather was born, there was no healthcare. There were no airplanes. There were no boats. There were no trains. There were no communications. No Internet. No widespread knowledge. It will be a completely different world but a much better place in a hundred years.
I am a patriot: I want to help my country and help it grow.
People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time.
The best way to look at any business is from the standpoint of the clients.
I love my children. I spend a lot of time with them.
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.
Business has to have a seat at the table. Infrastructure isn't going to be built properly if business doesn't have a seat at the table. A school is not going to happen if businesses don't work with schools about what kind of jobs they really need.
