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.
Jamie Dimon
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.
Economies of scale are a good thing. If we didn't have them, we'd still be living in tents and eating buffalo.
The real story in housing will be a recovery in the economy that will drive a recovery in housing, When people are working, when there are more jobs, more households forming and people go back to buying cars, they're going to want their apartments and homes. And that's when you'll start to see a recovery in home prices.
The best way to look at any business is from the standpoint of the clients.
You can compromise without violating your principles, but it is nearly impossible to compromise when you turn principles into ideology.
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.
If you're making all your money simply betting on interest rates, that's not a business. Flow is a business. On the outside, they look the same for a while. But when you dig into them, no, they weren't exactly the same.
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.
Unraveling the euro is a terrible thing. This is a 50-year endeavor to get this continent together and that's a wonderful endeavor.
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.
I get to deal with presidents and prime ministers and - and employees from tellers on up. And I love it.
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.
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.
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.
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.
There are downsides to a lot of things. There are downsides to flying - people die every now and then. Do you want to stop all air flights? There are downsides to pharma; sometimes they're misused. Do you want to stop using pills?
Americans should understand that 50%, or something like, of the kids in inner-city schools, often poor and often minority, don't graduate. And the ones that do don't necessarily have the skills to get a job. That is the biggest disgrace in this country.
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.
It is true that too many people are not getting a fair opportunity to get ahead. We must find ways to help them move up the economic ladder, and everyone - business, government, and nonprofits - needs to play a role.
The term 'too big to fail' must be excised from our vocabulary.
As American citizens, if you believe all banks were bailed out, you would hate banks. I would, too.
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.
The denigration of business hurts America, because the secret sauce for our economy is confidence. I don't want to hear that nonsense that all business is bad.
People need to understand: Businesses are going to make mistakes. They shouldn't be shot and hung every time.
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.
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.
No one can forecast the economy with certainty.
I have gotten disturbed at... some of the Democrats' anti-business behavior, the sentiment, the attacks on work ethic and successful people. I think it's very counter-productive.
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.
I am struck that so many of our leaders in the U.S. forget how strong our country can be.
All businesses tend to pass costs onto customers.
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.
We are totally open kimono with regulators.
It's good for America when the rest of the world grows, because you can sell more to the rest of the world.
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 not embarrassed to be a banker. I am not embarrassed to be in business.
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.
When the government gets involved in pricing, I don't think it's the right way to look at a business.
The government has the right to change laws and rules and regulations.
First of all, I yell very little, just so you know. Maybe years ago I did more, but I yell very little.
I've seen people, when they get into these bigger and bigger jobs, it goes to their heads. I've seen it. Some people in life change who they are, and some don't. I'm basically the same guy I've always been.
I hope the story of 2011 is that America gets its mojo back. You've got to remember that America has the best universities; it's got some of the best businesses. It's got an unbelievable work ethic, rule of law. The story of 2011 will be America blossoming again.
Walk into a Chase branch and we can give you so much quicker, better and faster. Like Wal-Mart.
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.
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.
Abraham Lincoln never denigrated, never scapegoated, never finger-pointed. And he had reason to.
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 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.
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.'
