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JPMorgan's Dimon Bashes Regulations
December 7, 2011
JP Morgan's Jamie Dimon continued to bash global banking regulations in a speech at the Goldman Sachs financial-services conference, while at the same time vigorously defending his own bank's capital and business positions, including increasing exposure to Europe's stressed countries. Dimon sounded defiant on several topics, but especially continued to criticize global regulations that look to force banks of J.P. Morgan's size to hold more capital, trim some trading operations and shrink risky assets.
Dimon showed a chart he referred to as a "spaghetti chart" listing in great complexity the reach of global regulators and warned future, hypothetical regulators will see there have been missteps.
"I'm quite convinced Ben Bernanke Jr. will write a book and show the market slowed down," Dimon said.
For more go to, [MarketWatch 12/7/11]

