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Dimon: Hit me with a fine; We can afford it

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Mortgage Professional America | 01 Apr 2015, 08:38 AM Agree 0
In her new book, U.S. Sen. Elizabeth Warren reveals an argument between her and JPMorgan's CEO over financial regulation, Dodd-Frank and the CFPB.
  • griff | | 01 Apr 2015, 09:45 AM Agree 0
    Not only can JPM afford it, Jamie can afford it because his income has just skyrocketed since the whole financial collapse. Warren's cfpb is zero help in the grand scheme of things. We would have been best off to let the SEC, FDIC and all the rest of the regulatory agencies handle the cure. As a side note, Warren is NOT president material. She serves best by being the squeaky wheel.
  • | | 01 Apr 2015, 12:47 PM Agree 0
    More power to ya Jamie! I hope you refuse to send a penny to the dems campaign. They don't deserve your support after the banana they gave you. You guys didn't take a dime of the gov't's bailout money and you weathered the storm and they put a target on your back because of it. I admire the fact that held your ground and proved the gov't wrong. Great job Jamie, you earn every dime of pay!!!!

    Keep up the good work!
  • Khan-stitution | | 01 Apr 2015, 01:17 PM Agree 0
    First of all lets get a couple of things correct. It is not Jamie diamond who got hit with the fines it was the stockholders of these banks. We have got to get over this us versus them between the Federal Government and Private enterprise.
    We are a capitalist society, banks provide the lubricant in every shape of commerce to keep the world as we know it both organized and civilized...Excessive fines over crazy stuff against the banks is not in Americas best interest or theirs if your action is undermining the net worth and capital of these companies. The doj needs to stop using fining of these institution's on their bad side, as a backdoor income tax.

    The bottom line is if people borrow money they need to understand that it has to be repaid, rather than the government entering and saying they did not know what the hell they were doing...Hello...if you borrower money it has to be repaid...if you did not repay it your in default of the economic system as we know it. Elizabeth Warren seems to think it is because there were not enough forms. I might remind everyone she has it in for banks because when she was a little girl her Dad, lost his car because he did not make the payments and that has sent this chick into badger mode. She has also amassed a fortune during the process. Google her net worth.
  • Small Biz Owner | | 01 Apr 2015, 01:47 PM Agree 0
    Speaking from the perspective of a small business owner who has been through the door of every major bank looking for a mortgage and a credit line so I can grow my business, and who has been turned away by most of them without them even looking at my financials, banks are not doing the job they are supposed to be doing by lending to grow the overall economy. They are trying to make money for themselves, while small businesses get treated like we are unworthy of their consideration. There is a very large groundswell of small business owners out there in America who have been turned away by banks, and we're all capitalists, and we think Elizabeth Warren rocks. The banks need to start lending -- to everybody who is trying to make business, even if it's small business. Until they do that, they will gradually seem more and more untrustworthy, and more and more people will start to realize it, until there is an eventual tipping point.
  • gh | | 07 Apr 2015, 10:53 AM Agree 0
    Now that the Dem's got them what they needed it doesn't matter. Great Raise Jamie. Some day there will be repercussions . Maybe not in our lifetime but after. Warren just another self made person who used the system. Hard for small businesses to survive and every time we figure a way to do so they change the rules again. Amazing that although brokers have always provided superior service which cause banks to lose market share how contributions to those crooks always seemed to levy their advantage.
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