A Quote by Jamie Dimon
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.
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Financial regulators should be particularly attentive to the financial consequences of their actions.
Apparently modern financial regulators are vastly more sophisticated than we were as financial regulators 25 years ago - because we had never figured out that the key to financial stability was leaving felons in charge of the largest financial institutions in the world.
If we want our regulators to do better, we have to embrace a simple idea: regulation isn't an obstacle to thriving free markets; it's a vital part of them.
Ultimately savings have to go somewhere and I think they will find their home in financial markets and within financial markets, a large part in equity.
The U.S. and, to a certain extent, countries in Europe as well, have experienced growing inequality within their population for decades - a small group of people own the lion's share of the wealth. Populists take advantage of this, and their policies are extremely hard to predict. And this has serious consequences. Companies shy away from risk, postponing their investment decisions in times of uncertainty, the stock markets get nervous and unemployment threatens to increase.
Kevin Freeman has been warning America’s leadership of the dangers of financial terrorism for the last three years. It is happening now and Kevin provides the evidence in his book Secret Weapon. Every American needs to understand how our financial markets have been manipulated by people who want to destroy the nation and how they can do even greater damage in the future. This book is a critical read for everyone.
I'm confident UTC could outperform in all of our markets, starting with our commercial businesses. The largest opportunities for our commercial businesses are in emerging markets, and we're very well positioned there.
Most of us think that decisions such as where shall I live, with whom shall I partner, what shall I pick as a career for my life are the most important decisions that we make. But from the point of view of the universe these decisions are not that important. Within you, you have already made decisions about who you are, what the universe is and how you will relate to other people and how you will relate to the universe and these decisions are creating consequences in your life moment by moment.
The generally accepted theory is that financial markets tend towards equilibrium, and...discount the future correctly. I operate using a different theory, according to which financial markets cannot possibly discount the future correctly because the do not merely discount the future; they help to shape it.
There's no doubt that decisions made by the leading central banks do affect the global financial markets and, consequently, our situation.
Credit markets were originally created to serve human needs; to provide businesses and individuals with capital to start or expand businesses or fulfill other financial needs.
Regulators around the world have achieved an unprecedented level of collaboration since the financial crisis to create global standards for financial institutions. American regulators have largely viewed these international standards as a floor, and imposed higher standards on U.S. institutions.
I also think it's important for us to hold our elected officials accountable and part of how you do that is simple, call them and let them know when you agree or disagree with what their decisions are and suggest how they should come out on certain legislation that important to you.
Almost no one will accept responsibility for his or her role in precipitating a crisis: not leveraged speculators, not willfully blind leaders of financial institutions, and certainly not regulators, government officials, ratings agencies or politicians.
It's important to recognize the vital role that the financial markets play in our economy and that so many of you are contributing to. To function effectively those markets and the men and women who shape them have to command trust and confidence, because we all rely on the market's transparency and integrity. So even if it may not be 100 percent true, if the perception is that somehow the game is rigged, that should be a problem for all of us, and we have to be willing to make that absolutely clear.
I think that when we talk about the regulators and the politicians, the economic consequences of bad decisions back in '08, you know, were devastating, and they had repercussions throughout the world.
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