JPMorgan CEO Hits Breaking Point on Gov’t Regs: ‘It’s a Free. F**king. Country’

JPMorgan CEO Jamie Dimon during a recent interview with New York magazine decried overbearing government regulations, at one point practically shouting, “It’s a free. F**king. Country!”

Dimon also made the case for deregulation (or at least a general “loosening up”) because, he says, fear of retribution has many small bank owners terrified to make a move.

“The whole world has become crazy. Businesses get attacked every time they do something,” he said. “Everyone is afraid of retaliation.”

“We recently had an event with a hundred small bankers here, and 85 percent of them said they can’t challenge the regulation because of the potential retribution. That’s a terrible thing, okay? This is not the Soviet Union — this is the United States of America. That’s what I remember. Guess what?” he asked with a raised voice, “It’s a free. F**king. Country.”

Dimon went on to argue that anyone who says the banks are “too big” doesn’t understand the benefits that come with the size.

“We bank [machinery and engine company] Caterpillar in like 40 countries. We can do a $20 billion bridge loan overnight for a company that’s about to do a major acquisition,” he said.

Read more here.

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One response to “JPMorgan CEO Hits Breaking Point on Gov’t Regs: ‘It’s a Free. F**king. Country’

  1. Good for chase.
    You can do a 20 billion bridge loan,but not one penny for the average American .So stick your paws back in your pants.
    Don,t ask for any more money,it is just more stealing from the people.
    By the way where is our money?????
    Tom

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