Jamie Dimon Quotes - Page 2

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• My father and grandfather were stockbrokers, and they would actually take stock certificates from a vault, give it to a runner, and send it to another vault. Then somebody said, "Let's digitize it and have one vault." Now the DTCC clears and settles almost everything, and the cost of doing a trade is a tenth of what it was before.

  Jamie Dimon

  Father, Giving, Cost

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• I think the free-enterprise system has been great for society. That doesn't mean it's completely perfect. And also, when people say capitalism, I'm not really sure what they mean.

  Jamie Dimon

  Mean, Thinking, People

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• We're trying to win business by doing a good job for the clients, as opposed to, "We think being big and universal is just a great, wonderful thing." It's not a morality thing. It's a "Does it work for the client?" thing. Everything we do is because a client uses us. Everything we do is because a client chose to use us of his own free volition.

  Jamie Dimon

  Jobs, Winning, Thinking

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• Our plate is full. We have a lot to do building our company organically and that is our key focus.

  Jamie Dimon

  Keys, Focus, Building

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• JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously its a tough economy. We support an oversight committee, we supported some of the compensation, new compensation rules, though we already follow most of them. We support a lot of it.

  Jamie Dimon

  Mistake, Support, Tough

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• It's hard in all countries. Democracy is hard, but it's better than the alternatives.

  Jamie Dimon

  Country, Democracy, Alternatives

  Source: asia.nikkei.com

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• All our clients know that we're there, we're steady, we do a good job, we earn a fair return for ourselves, which I think is critical.

  Jamie Dimon

  Jobs, Thinking, Return

  Source: asia.nikkei.com

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• I hate the word universal, because I don't know exactly what it means. The question is, does it work for the client? Travelers was a diversified, financial conglomerate that did very well. The businesses had nothing to do with each other.

  Jamie Dimon

  Hate, Mean, Doe

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• I'm not going to name anybody, but I think there are about five to 10 global institutions that will emerge as our primary competitors across the board. They're adjusting to this new world, like we are.

  Jamie Dimon

  Thinking, Names, Boards

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way.

  Jamie Dimon

  Looks, Lobbying, Way

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• If business doesn't thrive, it hurts America. We need improved relations, more collaboration, more thought and more consistency as we go about trying to make sure we have the best country in the world. Not scapegoating and finger-pointing.

  Jamie Dimon

  Country, Hurt, America

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• When the secretary of treasury, the head of the central bank, the head of the FDIC (Federal Deposit Insurance Corp.), and the head of the New York Fed say, "We want you to do this because we think it's in the best interest of the United States of America," you know, we're like the Japanese. We're a little patriotic that way. We said, "Yes, sir!"

  Jamie Dimon

  New York, Patriotic, Thinking

  Source: asia.nikkei.com

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• It's great that people get together and collaborate, talk about the facts and the analysis, all in the interest of having a great financial system.

  Jamie Dimon

  People, Together, Analysis

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• I also think you have to be very careful. I mean, the heritage of our company is very strong, and building some of these businesses into leading players is extremely tough. You and I can both build a trading business, and it looks like you're doing OK, and it looks like I'm doing OK. But, really, I am, and you aren't. It comes down to the quality of clients, quality of systems, quality of risk controls.

  Jamie Dimon

  Strong, Mean, Player

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• At Travelers, we were much more opportunistic. It was very successful, but it wasn't an integrated financial services company. We had a property casualty company, a life company, a brokerage company. We were a financial conglomerate. It wasn't a unified, coordinated strategy of any sort. When it merged with Citi, that became a big issue; Citi, at that time, wasn't yet a fully integrated, coordinated company.

  Jamie Dimon

  Successful, Issues, Financial

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• I am not embarrassed to be a banker. I am not embarrassed to be in business.

  Jamie Dimon

  Bankers, Embarrassed

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• Look, every institution will make mistakes. I acknowledge we make mistakes, and they can hurt my reputation and our company's. But you also must be willing to let go a little bit, trust others, and not always be so stringent, provided you have robust controls.

  Jamie Dimon

  Letting Go, Hurt, Mistake

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• Most CEOs are patriotic and most CEOs can see the problems in front of them, and they want to do something about it. We don't always agree about the ways and means, but the objective? We're totally together.

  Jamie Dimon

  Mean, Patriotic, Together

  Source: www.businessinsider.com

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• JPMorgan is a very good franchise. And the way you should look at a franchise, a business, is from the standpoint of the customers.

  Jamie Dimon

  Looks, Way, Should

  Source: asia.nikkei.com

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• The real story in housing will be a recovery in the economy that will drive a recovery in housing, When people are working, when there are more jobs, more households forming and people go back to buying cars, they're going to want their apartments and homes. And that's when you'll start to see a recovery in home prices.

  Jamie Dimon

  Jobs, Real, Recovery

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• We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.

  Jamie Dimon

  Florida, California, People

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• A bank is a relationship. I can't desert you and expect to have a strong relationship afterward. If I told someone, "I know you've been buying milk from me and you need milk to survive. But the price is no longer $2 a gallon. It's going to be $40 a gallon. I'm going to bankrupt you." What do you guys think of me? You would hate us.

  Jamie Dimon

  Strong, Hate, Thinking

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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• You don't run a business hoping you don't have a recession.

  Jamie Dimon

  Running, Banking, Recessions

  "Jamie Dimon’s World" by Michael Martin, www.huffingtonpost.com. November 28, 2009.

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• We've made a huge effort globally and in the US, in getting kids jobs. This is one piece. The South Bronx and inner-city schools need it more than most. It's our hometown; JPMorgan Chase banks a lot of people here. If you see the school, it works. Kids all getting jobs, they're smiling, they're proud of themselves. That's what we need to do in inner-city schools.

  Jamie Dimon

  School, Kids, People

  Source: uk.businessinsider.com

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• People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time. We should apologize for it. We should make up for it. My shareholders paid for it. No customer was hurt, which is critical to me. But I hurt my shareholders, and I wish I hadn't.

  Jamie Dimon

  Hurt, Mistake, People

  "Jamie Dimon on Finance: 'Who Owns the Future?'". Interview with John Micklethwait, www.bloomberg.com. March 1, 2016.

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