Crisis has eased; won’t go into depression: Jamie Dimon
“Keep in mind though there are a lot of banks that are actually pretty well managed. JPMorgan [Chase] being a good example, Jaime Dimon is the CEO there.” – US President Barack Obama soon after JPMorgan Chase took over Washington Mutual last year.
On the Forbes India Show on CNBC-TV18, the guest is the man himself: Jamie Dimon, Chairman and CEO, JPMorgan Chase.
On the show, the transcript of which follows, Dimon said the financial crisis had eased. “Yes. Everything we have seen in consumer spend in February, March, April, May, while it kind of moves in fits and starts, it is stable. It has stabled down quite a bit, but stable is good,” he said. On how the US government moved to combat the crisis, he said, “They have done enough for now. If you look at between the fiscal stimulus package and the Federal Reserve has a lot of programmes out there, and the Treasury has a lot of programmes. In total, they are pretty powerful. You have seen the effect right today. They need to do more, they can always do something down the road.”