Jamie Dimon

Jamie Dimon (/ˈdaɪmən/; born March 13, 1956) is an American business executive and chairman and CEO of JPMorgan Chase, the largest of the big four American banks, and was previously on the board of directors of the Federal Reserve Bank of New York.

Jamie Dimon (Jan 2013)

Quotes

• The current pandemic is only one example of the bad planning and management that have hurt our country: Our inner city schools don’t graduate half of their students and don’t give our children an education that leads to a livelihood; our healthcare system is increasingly costly with many of our citizens lacking any access; and nutrition and personal health aren’t even being taught at many schools. Obesity has become a national scourge. We have a litigation and regulatory system that cripples small businesses with red tape and bureaucracy; ineffective infrastructure planning and investment; and huge waste and inefficiency at both the state and federal levels. We have failed to put proper immigration policies in place; our social safety nets are poorly designed; and the share of wages for the bottom 30% of Americans has effectively been going down. We need to acknowledge these problems and the damage they have done if we are ever going to fix them....
• We need to demand more of ourselves and our leaders if we want to prevent or mitigate these disasters. This can be a moment when we all come together and recognize our shared responsibility, acting in a way that reflects the best of all of us... My fervent hope is that America rolls up its sleeves and starts to attack these problems. Fixing them would better prepare us for future catastrophes, create better economic outcomes for everyone... improve income inequality, protect the most vulnerable and foster economic growth that is more resilient, which would also strengthen America’s role in the world.
  • Jamie Dimon's Letter to Shareholders, Annual Report 2019, JPMorgan Chase (6 April 2020)

• I've always been deeply opposed to crypto, bitcoin, etc. You pointed out the only true use case for it is criminals, drug traffickers, money laundering, tax avoidance. .... If I was the government, I’d close it down.
  • Jamie Dimon, responding to a question by Elizabeth Warren during a Senate Banking Committee hearing, December 6, 2023.

About

• we must eliminate the blatant conflicts of interest at the Fed. The reality is that the Federal Reserve has been hijacked by the very bankers it is in charge of regulating. I think most people would be shocked to learn that Jamie Dimon, CEO of JPMorgan Chase, served on the board of the New York Fed at the same time that his bank received a $391 billion Fed bailout. And he is not the only example. At least eighteen current and former Fed board members were affiliated with banks and companies that received emergency loans from the Fed during the financial crisis. We can no longer allow the foxes to guard the henhouse at the Federal Reserve.
  • Bernie Sanders Our Revolution (2016)

• The idea of negative income tax is novel: In effect, it's a kind of income tax that works in reverse. For those who earn below a certain amount — like the poverty line — the government pays them. The largest example of NIT is the Earned Income Tax Credit (EITC), which serves 27 million working families in the US. It was started in 1975, under President Gerald Ford, expanded once by President Reagan, and expanded further by President Clinton. The EITC functions like a big tax refund. If a family makes below a certain amount each year, the government will refund the tax that was withheld plus an additional amount.
  • Jamie Dimon just doubled down in supporting a little-known tax that pays poor people, Chris Weller, Business Insider (4 Apr 2017)

• In his latest annual letter to shareholders, JPMorganChase CEO Jamie Dimon says the US should "dramatically expand" its current earned-income tax credit, a form of negative income tax that pays low-earners instead of asking them to pay income tax... Dimon's letter echoed his comments at this year's World Economic Forum, in Davos, Switzerland, where leaders took to the idea because robotic automation now looms over a growing number of jobs. Governments may need to find ways to supplement people's wages when employers no longer require the employee's specific type of work. Dimon's vision of the near future is different from how most of us think about earning an income.
  • Jamie Dimon just doubled down in supporting a little-known tax that pays poor people, Chris Weller, Business Insider (4 Apr 2017)

See also

• Banking
• Capitalism

External links

• Encyclopedic article on Jamie Dimon on Wikipedia