{"id":5414,"date":"2013-01-23T00:00:00","date_gmt":"2013-01-23T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/01\/jpmorgan_ceo_jamie_dimon_blame"},"modified":"2022-05-02T15:41:39","modified_gmt":"2022-05-02T20:41:39","slug":"jpmorgan-ceo-jamie-dimon-blame","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/jpmorgan-ceo-jamie-dimon-blame\/","title":{"rendered":"JPMorgan CEO Jamie Dimon Blames Regulators for Problems in the Wake of Economic Crisis"},"content":{"rendered":"

Speaking at a panel at the World Economic Forum in Davos, Jamie Dimon, the chief executive officer of JPMorgan Chase (JPM)<\/a>, said that one reason many of the issues from the 2008 financial crisis have yet to be fixed is because new regulations have made things more complex. Dimon said that not only is too much being attempted too quickly, but also he believed that regulators have become too overwhelmed by the rules.<\/p>\n

Dimon said that rather improving the system, during the last five years there has been a great deal of placing blame and exchanging misinformation. He did, however, praise the Federal Reserve, which he said saved \u201cthe system\u201d by coming to the rescue after Lehman Brothers failed.<\/p>\n

\u201cIt\u2019s unbelievable that Mr. Jamie Diamond would be complaining so loudly about regulations,\u201d said Institutional Investment Fraud Lawyer William Shepherd. \u201cAmong other gambling woes, his company just took a $6 billion loss on one of his traders bets! Look where deregulation of the financial markets got us 5 years ago! After the 1929 debacle, laws were passed to regulate these markets. One outlawed banks and securities firms being under the same umbrella. In fact, this is how Morgan Stanley (MS) <\/a>was formed, as a forced spinoff of JP Morgan Bank. Lawmakers had decided that banks insured by FDIC, thus the taxpayers, should not gamble in the securities markets. Unfortunately, that law was repealed, and less than 10 years later our financial system collapsed again. Congress should have simply reinstituted the ban on such combined firms but has instead voted out far less protection. Stop your wining Jamie!<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Speaking at a panel at the World Economic Forum in Davos, Jamie Dimon, the chief executive officer of JPMorgan Chase (JPM), said that one reason many of the issues from the 2008 financial crisis have yet to be fixed is because new regulations have made things more complex. Dimon said that not only is too […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3958],"tags":[],"class_list":["post-5414","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-jp-morgan-chase"],"yoast_head":"\nJPMorgan CEO Jamie Dimon Blames Regulators for Problems in the Wake of Economic Crisis — Investor Lawyers Blog — January 23, 2013<\/title>\n<meta name=\"description\" content=\"Speaking at a panel at the World Economic Forum in Davos, Jamie Dimon, the chief executive officer of JPMorgan Chase (JPM), said that one reason many of — January 23, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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