Top 262 Quotes & Sayings by Jamie Dimon
Explore popular quotes and sayings by an American businessman Jamie Dimon.
Last updated on September 17, 2024.
In America, you keep on hearing productivity is low; secular stagnation, it's a new normal. It's just not true: We've had multiple wars; we're not educating our kids. We had government shut downs, badly-spent money, failures in the health system, failures and an extreme amount of regulation - that's why we're going slow.
You cannot prove this in real time, but when economists 20 years from now write a book on the recovery, it may well be entitled, 'It could have been much better.'
You know, the benefit in life is to say, 'Maybe you made a mistake, let's dig deep.'
People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time.
When the government gets involved in pricing, I don't think it's the right way to look at a business.
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.
America has the best hand ever dealt to any country on this planet, ever. Yes, we have problems, but you travel around the world, you'll see we have it all.
When my grandfather was born, there was no healthcare. There were no airplanes. There were no boats. There were no trains. There were no communications. No Internet. No widespread knowledge. It will be a completely different world but a much better place in a hundred years.
If the government wants to do social policy, it should not be done in a quasi-public company. If you have a mortgage guarantee company which is done by the U.S. government, it should be guaranteed by the originators, i.e., the shareholder.
Unraveling the euro is a terrible thing. This is a 50-year endeavor to get this continent together and that's a wonderful endeavor.
My retirement date, every time you ask me that, I'm going to say five years. I don't want to retire.
All businesses tend to pass costs onto customers.
I would love to be the president of United States, and I think I would be good at it, but it's too late, and it is too hard.
Donald Trump has put some professional people around himself. Experienced. Successful. I know a lot of people seem to think that success and experience are reasons you shouldn't serve in public office. But they are knowledgeable and smart, and they've been around the world.
I think it's a mistake for the American public to constantly be told that if you work for an oil company or you work for a bank, that automatically makes you bad. I think a lot of these people are very qualified people who are patriots. They're going to want to help the country.
Until Donald Trump got to where he was, they said you'll never see a rich businessman who's never been in politics be president. I clearly was wrong about that.
I am not embarrassed to be a banker. I am not embarrassed to be in business.
I don't buy this thing that our industry is responsible for all the ills of the world. We have great people at JPMorgan Chase. We operate with a lot of rigor. Our clients are happy with us.
I am struck that so many of our leaders in the U.S. forget how strong our country can be.
Everything needs to work at the same time. But what keeps society vibrant permanently is jobs, industry, business, and stuff like that. It pays for everything else. If you just build affordable housing, and those people don't have jobs, it'll no longer be affordable soon. So you really have to build around the business community.
In America, we have a two-party system, and the American Constitution is a piece of brilliance, but they did not know when they set it up we would just have a two-party system. It just so happens that our electorate pushed towards the two-party system because it's a very good way to govern.
I'm very close to thinking the United States shouldn't be in Basel any more. I would not have agreed to rules that are blatantly anti-American. Our regulators should go there and say, 'If it's not in the interests of the United States, we're not doing it.'
No one can forecast the economy with certainty.
You can design a mortgage system that is different without a Fannie and Freddie, but there are principles you have to have, to have a good system.
Some things never change - there will be another crisis, and its impact will be felt by the financial markets.
You can compromise without violating your principles, but it is nearly impossible to compromise when you turn principles into ideology.
There are legitimate concerns long term, in my view, about nuclear war and policy and stuff like that. But the world has become a better place every 20 years for the last 2,000 years.
Virtual currency, where it's called a bitcoin vs. a U.S. dollar, that's going to be stopped. No government will ever support a virtual currency that goes around borders and doesn't have the same controls. It's not going to happen.
Abraham Lincoln never denigrated, never scapegoated, never finger-pointed. And he had reason to.
I get to deal with presidents and prime ministers and - and employees from tellers on up. And I love it.
I am not interested when people refer to a quarter or this year because the way I look at a country is what are its prospects over the next 20-30 years, and India's are good.
Economies of scale are a good thing. If we didn't have them, we'd still be living in tents and eating buffalo.
The United States has the best, deepest, widest, and most transparent capital markets in the world which give you, the investor, the ability to buy and sell large amounts at very cheap prices. That is a good thing.
We support too big to fail. We want the government to be able to take down a big bank like JP Morgan and it could be done. We think Dodd-Frank, which we supported parts of, gave the FDIC the authority to take down a big bank.
When people blanket a whole class of people with statements, I just think that is unfair to everybody. I could do the same thing about media. I can do the same thing about politicians or lawyers, and they're just never accurate.
We don't have a divine right to success. So I agree with a lot of politicians out there when they say, 'We've got serious issues.' We do: immigration, infrastructure. I think income inequality's one of them.
Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.
In the old days, you dealt with one regulator. Now it's five or six. You all should ask the question how American that is.
Business has to have a seat at the table. Infrastructure isn't going to be built properly if business doesn't have a seat at the table. A school is not going to happen if businesses don't work with schools about what kind of jobs they really need.
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.
We are going through a period of profound political and economic change around the world, and American citizens showed that deep desire for change in voting to elect Donald Trump as the 45th President of the United States.
People and companies make mistakes. I guarantee we'll make a mistake next quarter. So what? Businesses make mistakes. Hopefully smaller, and fewer.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
The best way to look at any business is from the standpoint of the clients.
I'm a little bit of an eternal optimist. People always say to me, 'If you go do this and it fails, what are you going to do?' I don't care. I'm going to give it my best shot. That's what I'm going to do. If it doesn't work, it doesn't work. And I'll try again.
America is best when we come together with clear leadership, expertise, and the political will to take on difficult challenges and get things done. No one should ever doubt the strength and resilience of our country and our democracy.
I think that technology is the best thing that ever happened to mankind. It's an absurd notion that somehow, 'My God, what are we going to do when driverless cars come along?' It's going to save lives on the road. And maybe, one day, we'll all be working four days a week and not five or six days a week.
Capping the size of American banks won't eliminate the needs of big businesses; it will force them to turn to foreign banks that won't face the same restrictions.
It is vital for officials and regulators to have input from people within our businesses who understand the intricacies of how financial markets operate and the consequences of certain policy decisions.
Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more quickly and at less cost; for the businesses that are our customers; and for the economy as a whole.
Trade is very good for the country. It's very good for the GDP. It's good for wages, but it doesn't mean it's always good for every business. So we should have trade assistance, which is about relocation, re-education, and training.
JP Morgan always has higher capital liquidity, that is partially to make up for mistakes and problems and obviously it's 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.
While legislation obviously is political, we now have allowed regulation to become politicized, which we believe will likely lead to some bad outcomes.
We are totally open kimono with regulators.
I am a patriot: I want to help my country and help it grow.
Most decisions are not binary, and there are usually better answers waiting to be found if you do the analysis and involve the right people.
You wonder, 'How could it possibly be me?' Well, of course it could happen to you. You have it. Then, of course, you wake up every morning, and you hope it's a bad dream. Then you wake up. I have cancer.
If you're blindly loyal to me, then you're just acting like a crony of mine. If you say you admire me because of the principles for which I stand, I understand that, but then you also have the right to call me to the carpet when you think I'm falling short.
That's my contribution - running a sound, healthy company that serves millions of customers well and employs hundreds of thousands of people. What else am I going to do? I'm not an artist. I'm not a writer. I'm not a musician. I'd love to be a tennis player or musician. I'm not.
As American citizens, if you believe all banks were bailed out, you would hate banks. I would, too.
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