JPMorgan\u0027s Jamie Dimon said it’s time for regulators to do whatever it takes to put an end to turmoil in the banking industry. Read on.
Dimon said regulators need to get a better handle on smaller banks’ financial situations, to “not be surprised constantly.”
Dimon joined a chorus of market participants who questioned the behaviour of some short sellers, saying he believes the Securities and Exchange Commission should be looking at such activity for any “unscrupulous” tactics.Article content In the wide-ranging interview, Dimon touched on his firm’s preparations for a potential U.S. default as well as his assessment of the state of U.S.-China relations. The chief executive also offered a sober warning about the likelihood that losses on commercial real estate loans will lead to more regional bank failures.
Dimon, who has long advocated for the elimination of the U.S. debt ceiling, said JPMorgan has convened a weekly war room to plan how the country’s largest lender would react to a potential default. Those meetings will probably happen more often, potentially multiple times a day, if the standoff persists this month, he said.
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