Jamie Dimon explains interest rate cuts, the economy, and student loan crisis

to call jamie dimon an influencer isn't understatement he's a center of gravity around whom others orbit diamond took over JPMorgan Chase in 2005 just a few years before the financial crisis struck he has since turned the bank into the country's second most lucrative business raking in 32 billion dollars in profits last year the chairman of the powerful Business Roundtable and a board member at the Federal Reserve Bank of New York Dimon is reportedly a billionaire he's here to talk about the changes that most profoundly shaped the economy and what he's learned up-close from weathering them and optimizing them hello everyone and welcome to influencers I'm Andy serwer and welcome to our guest JP Morgan Chase CEO Jamie Dimon Jamie nice to see you thrilled to be here so we're in this new flagship branch of the Bank and I want to ask you about that but first I have to ask you Jamie first off about the economy and the stock market the stock markets at a record high essentially and yet we have a trade war with China trade disputes in north america and europe and rising tensions with Iran how do you reconcile those two the the market sometimes inscrutable but if you actually look at geopolitics they really affect the global economy they could you know these things get worse but they really affect the global economy I think trade is serious so you have the United States for example it's a very strong consumer good bound sheet household information wages going up particularly low end consumer comms is very high and business comm has been very high but it's been rattled a little bit by trade so we've seen a little bit as business confidence drop business investment drop people are worried about the supply lines and I think that may be hampering the economy a little bit it's a kind of Tale of Two Cities anyway that's a sizes two antelope it's down a little bit but still quite hot right and so we know how those two things collide and what effects what I don't really know the better thing is to have a deal in China there are serious trade issues you know so we all want the President to deal with the issues seriously which he's been doing a resolution would be good but we don't expect a quick resolution at this point what do you expect out of the g20 you know Sokka later this week yeah I think the best you can expect is that they have a good meeting that that they start renegotiating that the tariffs are off for now and give the teams a chance to negotiate a deal which maybe if you're if we're lucky it could be done by the end of the year so let's talk about this branch I mean obviously you guys have invested a lot here but I thought that all banks were doing was shutting branches down and yet you know this is a whole new way of doing banking for consumers people in business joins look at facts okay we have a million people day visit branches so Millennials are doing it less they're still doing it we've got 50 million people and digital we've got 21 million different customers a year going to a branch these branches support local small businesses they support middle market companies and poor consumers so and these new branches are great so we started this whole expansion for new branches in 20 major cities right at the heart of some of our competitors in some cases and we always would love a new but formats but this format is meant to be a flexor and and a community center so that when the people come here those who come here think we have a thing called chaise chats so you come here for a small business or individuals to learn about investing or storing small businesses you know we'll have community who come in and talk about some of the things we do to help affordable housing so we hope that these things will be just great for for JPMorgan Chase and we're thrilled to be on the expansion trail again I mean it's very experienced right next pension trail is thousands and thousands of jobs right and the new branches no DC Philadelphia Boston actually open quite well it's a relief but they're doing quite well it's very experiential and I want to ask you then how does that dovetail with those 50 million online customers I mean is it either online or these super branches nothing in between you know most people actually do we try all these different formats and over time those will change and obviously these formats have more ATMs less tellers more advisors private client advisors of small business advisors and mortgage advisers so the advice part is going up the operational part is going down on average the branch like it's smaller this obviously is not one of the smaller ones but on average look at small but you got to remind yourself people the average customer visits branches uses the call centers and does digital they do all of it and we do more for them bill pay online you can if you are a chase customer a good customer you can buy and sell stock for free you're gonna get Robo investments as really good phone here well give you guys advice and stuff like that help you save for your kids futures and we're coming out new products and new services all the time that so people using them more not less over here they've got a piano enough people can see that but don't you know that's pretty cool too you know play tune maybe okay so I want to ask you about the business mix because obviously consumer is a huge part of what you're doing I mean it's almost what forty to fifty percent of the bank's business is consumer what does the mix gonna look like say five to ten years from now I hope our share goes up every year and we're gonna fight you know in the trenches for every customer buy better products better services better technology and more things like so you know we've been growing both investments investments in deposits combined eight hundred billion dollars we're gaining share in both those areas and we just rolling out some these new products we just have some chemical chase offers like free credit you can get your credit score now you go on and we're gonna take you on a journey about how to improve your credit score we don't even market it 19 million people use it already and a lot of people use it all the time so we can help you improve your financial your financial life by something like that which would give you for free so we'll find a million ways help our customers do better and hopefully we'll earn more and more of their business remember 25% of the business takes place in these branches is small business small business I need help they need to come by and drop off coin and currencies and sign things etc so we said we support both the banks like JPMorgan Chase have sort of an unfair advantage though Jamie over smaller banks at this point because you need that scale and the capital to invest in technology to be able to succeed and attract and retain consumers there's definite kinds of scale that's true in most businesses but remember some of the smaller banks community banks they also have other things they can do they have very low costs they buy some of these services from third-party providers and they also have you sometimes you have a unique experience but the small businesses they are the real estate there so they could they could do a great job but you're gonna I think you can see some more in the middle of merge to try to get some of the kinds of skeletons right senator Bernie Sanders introduced a plan where he would wipe out student debt essentially by levying a tax on Wall Street fifty basis points so in equities ten basis points on bonds what do you think about that plan so the first of all is there an issue with student debt there is and but you got to stop the creation of bad debt so look what we did with student debt the government took it over in 2010 they've lent out a trillion dollars irresponsibly and now they want to forgive it okay and now your universities half the kids don't graduate and it takes six years the universities just feel more responsibility so if you're going to make loans make good loans that people need to get them to where they're going and get them good jobs at the end the other thing there's a lot of people get those college degrees they don't need help the computer need help with the inner city school kids the kids who want to graduate in high school you know some of the kids are community college you need Pell grants and stuff like that so usually help you out make sure you direct it to those who really need it how you pay for it you can debate it all day long you know financial tax will be paid for by investors at the end of the day so would you support the plan no I think they should look at all parts of student lending fix the broken parts and then forgive those people need forgiveness and then help people get into school and then make sure the schools are responsible and gain the kids out that what we've done is a disgrace and it's hurting America we see it hurting household formation mortgages etc how they go about taxing I'll leave that to the politicians to figure out let me ask you about the Federal Reserve Jamie they've been signaling strongly they're gonna cut rates the question is why unemployment slow GDP is pretty good other parts of the economy pretty healthy and yet we need a rate cut well they haven't done anything yet I think they signal that they can go either way at this point you know but you at us are very important the why is often far more important than what they do if they're cutting rates because they're worried about the economy that's not particularly so good if the cutting rates because they you know want to grow things faster that may not be so bad so it really depends and look the Fed has to be data dependent I mean can you imagine the Fed saying doesn't make difficult the data says we're gonna do what we feel like so they're trying to react properly to what's going on in the world and they see the same things you and I see slightly reducing business comp is slightly reducing capital expenditures you know a lot of geopolitical noise out there they should be responsive and what do you make of president Trump's war no other way to call it on jpowel and a fad I mean the other day he called them you know clueless essentially acting like a stubborn child as he crossed the line I look I think Jay Pell is a high quality guy and the president has done way of communicating so he'll that you talked about how he does that but Jay pal is a quality guy the central bank has to be independent that central bank is independent and most presidents in their heart of hearts want lower rates that should never be a surprise to anybody okay shifting gears a little bit I want to ask you about this initiative you have in Detroit you're announcing an additional 50 million dollar investment there in addition to monies that you pledged before so it's 200 million by 2022 why Detroit is for African American residents and entrepreneurs what exactly does the money go to Detroit I think business has to be involved in trying to fix some of our serious problems Detroit was an example of the probably the one city or more than over coveri his population went from 2 million to 7,000 and mayor got elected on a door-to-door vote a white man in a 80% black neighborhoods but he talked about what I thought we were always great stuff schools jobs education affordable housing I need help and he he said to anyone anyone who could help me come on in civic society business and people jumped in to try to help so we said the team of people and not traditional is to look at what can we do to help to accelerate the recovery of Detroit and so obviously we're quite good at affordable we can be sustained very analytical I'm going up tomorrow to review some of this with the mayor around affordable housing work skills infrastructure this new effort is because there's still a class of citizen being left behind and it's awful minority and they're in there this case black Americans so this 50ms a special effort to help black entrepreneurs to do education small business and housing for the for the segment that's been left high a little bit again we try to have the very focused effort and we use these but we learn these things we share so we do it and a little bit New Orleans Chicago New York LA so we're getting smarter smart how we can help lift up society and weird a lot of people doing it we're not the only ones but Detroit is working this effort is working we happen to be one of the biggest banks in Detroit so if consumers small business and large corporations so but if you were only in one city when you try to help you city but that's the most important thing so obviously it's good for the bank but but it's part human you trying to help your city and your people come back and recover from what have been basically a terrible 20 years yeah I mean you really see progress there because people have been trying to help out the city for a number of years now yeah so if you if you go downtown you went downtown ten years ago you couldn't walk around downtown there was no life there no lights with a lot of crime you go downtown now they're lights there are bands there are restaurants jobs are coming back I think the population started go up the first time you know more people moving into the about rehabbing some of these homes had been abandoned they're making much better effort on skills and all societies working together I mean it's a beautiful thing to see people actually work together I also want to say you know how I got the idea from Lee Saunders Iran's asked me the just for workers union who you know said Jamie I need help in Detroit so we've done a couple things up in Detroit together so unions working with banks working with civic society working with mayor's working with governors that actually works what we see today happening like in Washington that does not work yeah it's an unusual unusual in that sense then let me ask you about the bank and strategy going forward thirty two billion dollars in profits last year second only to Apple in the United States and you guys have really recovered incredibly from the Great Recession of course but what are the big opportunities going yeah our finest year was 2009 okay our profits are down it things like 50 or 60 percent but we stood behind our clients around the world governments cities state schools hospitals and that was a finest year we had even though the profits only one measure will you actually accomplish in life you know did quality people quality technology service obviously you know we live in a cyclical environment every now and then we're not going to have increasing profits and but the future is equally bright you know obviously you can have competition FinTech payment systems you know around all those are legitimate that's a good thing you don't have competitions a good thing but we're pretty competitive too so we're you know we do 11 1/2 billion dollars it's pantech every year we're opening for nerd branches we've got new products for for lower income folks we open up new countries every now and then we have more people calling in corporate clients in Europe we're adding asset management products around the world so like every one of our business is growing at a different pace and but they're all growing they're all pretty much gaining share and you know we're pretty ambitious and we're gonna keep on driving responsible growth then why is it am PE so low I don't worry about that I mean you you ever see me tout our stock or something like that we're earning 17% it was actually 19% last quarter intangible equity that's really good but we are in a little bit of cyclical business people are still afraid of banks you know these things that affect the world everyone whom affects us so people you know are cautious but we keep on do we're doing we'll make our show that's quite happy and one thing you said perhaps to mitigate that ultimately would be subscription like revenue you were talking about that and someone said it's sort of like Netflix almost yeah what is that all the people we already have a lot of that so if you look at like cash management asset management custody a big hunk of consumer banking a big chunk of kuma they are subscription businesses you know you signed this thing if you have revenues for years and of course you we have some which are more episodic so Investment Banking by its nature equity debt trades a little more episodic doesn't make it bad it just makes it episodic but we're still getting a share and the revenues generally are going up so you know if you look at our financial results if you look at just our financial results you look like I said my god that that comes barely consistent macton one of our analysts did a report Mike Mayo and show you but the volatility of our earnings and revenues were less than most other companies which would probably surprise you yeah boys lost on people I think we have a credit cycle so every day just said obviously credit go up or down and episodic businesses they scare up you a little bit but those businesses do quite well over a long period of time and Jamie let me ask you about Facebook's Libra cryptocurrency what do you think about that well blockchain is real where you we have the JP Morgan coin blockchain and I think and competition is real I think there are serious issues around money and how you can use money and send my but they're government issues and you've seen the government react like well what does that mean when you send money around the world really followed banking rules or KYC bsa/aml or they not so um but they obviously want to serve their clients that's fine I also want those serve their clients too so I always look at these systems about we would like to do some of it to ourselves and we should we don't always want to be forced in someone else's eko eko said you know echo system yeah did you talk to them about this at all did you guys talk to them about I did not but it's very possible someone the company did I mean it's crypto and existential threat to JP Morgan's core businesses I don't think so I mean people don't think Leigh we move six trillion dollars a day around the world it's very cheap very secure it works and the banking system has already built zel real-time p2p and TCH the theory now is with the bank ease that have built real-time payments we already have all that and it's very cheap it's very secure it shares a lot of information it goes through all the bank security systems cyber security systems KYC bsa/aml so we have that so we're gonna have competitors so it's whether whether it's a cryptocurrency competitor or another FinTech and competitor we're gonna have competitors I tell our people you just don't guess you know they're they're you know they're coming they know the you lunch assume it and it might and it might not be the ones we see it might be the ones we don't see but that's why we're offering free trading that's why we've come out of the Robo investing that's why we're coming out with chase offers that's why we're coming out with the FICO credit journey these are great products answer is some are free so we're just making our banking more and more value to you the customer satisfaction scores are going up the easy using the business going up what you can do digital is going up so as long as we can do a good job for you I think we'll be fine but you worry about younger customers Jamie I mean you guys could shut down fin and they're all these new fin tech companies out there which ones are those concern you the most alright we're gaining sharing Millennials every day and almost every in sapphire bank card so go ask any millennial I was at party of my daughter's and someone said sapphire and 10 kids were there they all pulled out their sapphire card they all have it so we are winning with Millennials they are using the branch less but as they get more money they need banking services investment services etc so fin you know I don't look at fin as a failure at all I could spend it we took a great team of people we said the digital-only may be fundamentally different than a bank so that they both have do build digital we learned a lot but the fact is we're also building a lot of digital stuff feel like digital account opening digital is and we just took the best of fin merging in there and now everyone gets the benefit of autosave you know products that might be special for a millennial segment or a product that might be special for an elder segment so we know we're always looking to business trying to serve our customers veterans now those young people I loved I think what the people covers if film was great right what kind of company were it's okay to have a skunkworks try some aven't work merge it in where you learn from it I mean Jeff Bezos so always talks about that mistakes are how you learn and you know for the whole business world in the regulatory world act like a mistake is always a bad thing is a mistake it's not are those young customers different less than you think I mean as they get more money they act more and more like you do let me ask you about wages because kind of a hot topic and with all these new branches you're gonna be opening up you're gonna be hiring more tellers and then of course people are going to be asking about minimum wage $15 Bank of America is now pledged $20 an hour you guys going to match them yeah so the way I look at it is and that that for the word I'm in favor of jung-min and wages going up I think we got to get people more of living wage and I think the federal maybe wait raises and then states should do more locally soon damage the economy too much I'm also a favor expand the Earned gum tax credit so that working people get more money in their pockets by getting basically negative income tax I would be dramatically in favor of that now we already pay you minimum sixteen and a half to eighteen so be it something eighteen in the city and it may go up over time we haven't you know we look at that every year and decide how we're gonna compete or not but remember it's already at the medium level of Americans that's a starting job that's a seventeen year old kid or a twenty two old kid and hopefully it's the first rung in the ladder and like these Brandt is out of the branch matters here may have starred as a teller that's how they start and so and they also get medical dental vision training enormous training and the best training they get isn't the money we spend on trained as they said they get to sit next as over bankers and learn how to do the business and get promoted and so we create huge opportunity for people and I understand the concern of America but I have the same concern but these companies already pay that they already do medical very trained their people we take very good care of people and that should be recognized little bit better you know some politicians particularly on the Left have been using this divisive nough sand pointing those to those salaries and talking about the difference between those wages and your salary but there's something there I mean you guys people might sort of poopoo them aoc Bernie Sanders Elizabeth Warren but obviously it's resonating with some people and so why is that and what can someone in your position do just because it resonates doesn't make it right and comparing apples and oranges is a complete waste of time you know I think people just don't think clearly about stuff like that we treat our people well we educate our people give them a huge opportunity and stuff like that's we should do we should acknowledge the problems in society that are causing the anger but those problems are we can't build infrastructure ok those problems are the inner city school is not graduating our kids our litigation systems capricious health care health care is a huge and what you see now is not their I understand people we should get or health care to the 40 million people don't have it but the biggest product becomes high deductibles which we all did you know we put them in so that people can't afford the deductibles they're avoiding men I think it's a terrible problem so what do we do second we found out we for our lower paid folks making under $60,000 a year we cut the deductible to the extent that if they do the wellness programs it's effectively zero so we're we understand we have a heart we're trying to take care of all our folks and in a relevant way we also need our talent we don't have our top bankers this company we'd be that successful if this company isn't that successful I couldn't offer these great benefits to lower paid employees so I people just don't think clearly we need good people we operate in a very complex global world and when you know our top bankers and lawyers and HR people and risk officers to make sure all the other things are right and they have other opportunities not just in America around the world with other banks so we know to act like somehow I can steal from them and do a good job my company is a little bit crazy how many people are opportunistic by taking some facts and not all the facts right you mentioned health care so let me ask you about Haven which of course is your venture with Berkshire and Amazon and and I read somewhere Jaime recently that you suggested that Haven is going to be taking aim not just at the employees of those three institutions but maybe has a broader mandate is that in fact okay so its own wrote that but it was inaccurate okay the mandate is that and give Warren Buffett and Jeff Bezos full credit that that we have this issue and you look at the issue it's end-of-life costs too much we don't do a good job in chronic care forty million people uninsured there's lack of transparency in medical markets obesity is now 30 percent of cost obesity drives cancer heart disease stroke depression diabetes we don't teach wellness in schools it's a huge problem there's now – almost 20% of GDP which is why Warren Buffett calls in the taper of corporate America of business and as you know the rest of world is 9% so we said you know we're going to do long-term sustained effort with really smart people and that's we have Atul Gawande we've got enough 30 or 40 people we're doing the data the science and we're start cracking what we could improve in all these different places and make ourselves smarter and smarter and smarter we said it like we don't we didn't tell them exactly what they can or can't do we said you got us you got a time you're out of money you're gonna attention go at it think big things small come up with things we're going to test and eventually we'll share that with the world if we if we come up I want to come to some great things we show you say Jamie a great thing that you've learned something we're better off for it and you know hopefully we can help fix healthcare system now that's the dream and the hope but you got to start small right gotta take that first death and and we we have not never said what it can or can't do just be open-minded be thoughtful use data figure out what's broken try to test how you can fix that do you talk to I'll tell Gandhi yeah I saw him yesterday in fact and he gives you sort of updates and raping someone every every week or two and what about Warren Buffett you know he's now finally invested in your company took him a while right and obviously he's a partner of yours in this endeavor how often you'd communicate with him not a lot but but I'm gonna go see him this summer and every now he comes to New York he comes to some to JP Morgan defense I obviously think the world of Warren I've been studying Warren I've been ridden we read every single one of his partnership reports going back to 1956 so I've been studying him for a long time fortunately I went to see Warren a couple years ago and he introduced me to Todd combs Todd and I hit it off Todd's brilliant he's now my board he's serving on the board for Warren of Haven and here we go Todd Todd originally sent me Jamie I'm a little bit of a policy nerd sometimes he sent me big books on PDA about companies and PPM's I said Todd I don't have a time becoming expert in that stuff and that it was that conversation that actually led to some of this like what could we do that we do need to look at and how we can fix these things and by we want a part of anyone can help so I tell the healthcare companies any one of them help us do this job you should be thinking about you can prove the health of Americans and you know that the system has flaws it's got we have some of the best in the world but let's also acknowledge the flaws you cannot fix problems if you don't recognize them okay it's just a cynic or not and we should start recognizing these problems coming up with better policy to make it work I think what the government did about transparency I've read the whole thing it's great you know you you if you had MRIs or a blood test you know in a two-block radius in the average town the difference in cost could be five times you know we should we should learn that and why is that is that legitimate should we maybe knock those cost down a little bit share some of the benefit with our employees so we're trying to find ways to make our employees happier better health both test certain things and wellness maybe certain things that telemedicine maybe they're coming with a bunch of stuff I'll let them do it from here at this point but in this new government program you actually do think it's a real step forward yeah I haven't read the detail but the concept absolutely we should have had national exchanges forced transparency and a bunch of stuff if we'd have that Obamacare would if we had much better chance to succeed and we didn't another person you talked to from time to time is Donald Trump you were there a couple weeks ago I think on Friday how was your relationship with him changed because you were pretty critical early on it seems like you're less critical now he's a president and I see presidents and prime minister around the world I focus on the policy you know trade tax immigration infrastructure and you know where where we can help we tell me we think I went there represent the B or T the Business Roundtable so I went with the bunch of the CEOs and we covered a wide range of subjects the Mexico trade deal China tariffs and trade deal Huawei infrastructure immigration and that's our job try to help him do the best he can when he says things we don't like we just we're pretty vocal not to are the tariffs something you disagree with him on I agree with the fact that the serious traders of a China and he's laid them out IP lack of bilateral investment rights regulatory barriers a whole bunch of stuff Sayed owned enterprise those are legitimate complaints which we need to resolve we did not originally think you should do tariffs we thought he should do TPP and get our allies together and then face-off against China and not angry China still China this is the terms of trade the tariff so far have gotten people the table that is true if you would ask me to do I said don't do it but I want a successful conclusion you know not not just getting them to the table so but the Chinese have told me it cuts them to the table so that's what it is you know that I have to confess I wouldn't have done it and a lot of people who said the same thing but we would like a successful conclusion and if he can't get a good deal I then he should walk away and that's a serious statement I just said if he can't get a good deal he should walk away and be and that will have ramifications but that's life in the fast lanes will survive and what about us MCA we're going to work really hard to get it passed as part of we went to see him you know the membership of the BRT wants that deal done Mexico is a good neighbor of ours carries a good neighborhood we've never had a member there war since 1848 you know we should we should treat them respectfully and decently they're very good neighbors there I think there are 30 year old democracy we should help lift them up and allow their problems are also ours we sell them that we buy their drugs and sell them the guns so we should work together to fix some of these problems and stuff like that and and we're gonna be fully involved in trying to get every congressman to vote for us mca how much credit does Donald Trump deserve for the economy being in such good shape thanks um you know I think you know I really mean that said you know all my liberal New York friends would never agree with me but the fact is we need a tax reform and the way gotta look at tax reform is we we had been a 40 percent federal and stayed for 20 years the rest of the world went from 40 to 20 but basically 20 we're still average for OECD the net result of that over the 20 years is that trends of dollars was reinvested overseas that would've been reinvested here I think already 800 billions been brought back now something's going to stock buybacks and all that but that's capital just give him capital back to be reinvested the real benefit is cumulative reinvestment in the United States over the next 20 years and that will be substantial people look at what happen be year over year that's not why you do something like having a proper tax system and so regulatory reform we needed and don't think of banks I'm not talking about down some but and any the whole American public notes mind-numbing paperwork red tape and bureaucracy it's making harder to build homes to build bridges to start businesses small business formation is lower than it's ever been in a major recovery because of that inference are this one you guys should be I'm if I were you gotta be talking about this every day it takes ten years to get the 49 permits on average to get to rebuild a broken bridge and that's true for our water our electrical grids our bridges our tunnels our airports what the hell's wrong with this can-do American nation that's regulation bureaucracy and stupidity and if we don't fix it we're relegated two more years of slow growth and they're trying to attack that so you know the positive you know we tell me exactly want about immigration we want a path to citizenship for law-abiding undocumented we want doctor to stay we want more merit-based like the 300 thousand kids from overseas who get educated here and have to leave you know they come to our universities for you know das or advanced degrees and if we do these policies right in America we're going a lot faster Jamie you look so engaged and I know you just promoted to women Marion alaikum Gen peep SEC you talked about staying on for another three years or so but I can't imagine you baby I never used the word three okay it's not up to me it's up the board okay thank you for point out the to two magnificent women you know Marion's been a great CFO for seven years now she's going to run credit card and mortgage and and auto and gem peep sack who's been in the investment bank and in in consumer was running credit card you know swapped in to finance and they're great parts of each other we have exceptional people our company and include exceptional women how do you personally measure success how do you judge whether you're succeeding or not you know I I don't there's no one measurement I took me when I die I hope people simply say you know what we're gonna miss that son-of-a-bitch and he made the world a better place it's not about profit it's not about you know what's the one thing that made your legacy and but I have to have this company this wonderful beautiful company called JPMorgan Chase thrive in the future with great leadership and great management and treat people ethically be responsible corporate citizens do a great job for customers win share that then it'll just make me feel great and the other one has taught my country a little bit I'm a patriot before I'm the CEO of JPMorgan where I am I'm much more engaged in policy I think we have to fix the policy errors in America holding us back that we have to fix them and last question this conversation often revolves around influence and so I want to ask you how you see using your influence on the world Jamie yeah as best I can you know people often say well what if this doesn't work your flow flat in your face it's a I don't care about that if you you know you go and do the best you can you know and try to help countries around the world you can't agree with everything everyone says but you know people say why do you go see president Trump you're gonna no I'm gonna help them do the best I can because I want to help America as best I can and where I can I'm not an expert in other areas or back of some areas I know quite a bit and I'll do the best I can and if it works it works if it doesn't I'll at least I'll rest in peace knowing I tried Jamie Dimon CEO JPMorgan Chase thanks very much for your time thank you I'm Andy serwer you've been watching influencers we'll see you next time you

  1. Is this a joke? Wages going up at the low end. Dude.. if wages go up $8 to $12 per hour at the low end, the middle class (for the sake of the argument) stay the same (but in reality is probably shrinking) and billionaires make a few extra billion, do you not see the issue? Look I’m not for income redistribution in the slightest, but this dude is detached. VERY poor communication skills too.

  2. You pay for everything in life: healthcare, food, shelter, water, clothing, convenience, entertainment….why don't you pay for banking as a depositor?

  3. God bless you Jamie! Thanks Yahoo!

    The misalignment and propaganda that has been fed to so many people and reflected in these comments is very discouraging.

    Jamie Dimon is an awesome individual. “A national treasure “ is an apt description.

    Contrary to these false accusations of greed and theft, he has led and developed a solid AMERICAN bank which has helped bolster this strong economy that too many take for granted.

    How so many people buy into this myth that successful business leaders must be successful only because they stole or cheated or lied. Says more about your own work and personal ethics. Yes, corruption exists, but not nearly as much as many make it out to be.

    God bless you Jamie!

  4. LOL , I bet Bernie Sanders and Elizabeth Warren Andrew Ross Sorkin believe that just one or a few companies own those student loans. … The facts are that they and a bunch of retired people hold those notes so they're going to get wiped out and then who's going to be there to bailout them? Dam and those old people will probably vote for them or will they if they knew?

  5. Before owning my own company I was a banker. Really good money for very little work. I was making over $300k/year. It was easy.

  6. you really think im gonna listen to 30+ min of a billionaire criminal banker, that intro was so sugar coated my teeth fell out

  7. In other words the well orchestrated plan to get Jamie dimon a $500 blow job that would otherwise cost him $5000

  8. He's spot on regarding the red tape bureaucracy horse sh!t involved with building or modifying any literally any structure.

  9. This zionist bastard should be executed after being prosecuted for treason against humanity and his stolen wealth confiscated.

  10. As is evident from some of the comments here, Jamie gets quite a bit of misdirected hate for the overall misdoings of the entire indutry. Let's be fair. During the 08 crises Chase was one of the cleanest banks (by Lehman standards). I think the man has done a great job as CEO thus far. His level of intellect, awareness and experience is unrivalled throughout the industry. Banks afterall are businesses and must profit to sustain operation. Can't blame him for that. Stop hating on success so that you may have some too.

  11. Jamie Dimon: ''We are doing quite well''
    Facebook coming out with Libra and cryptocurrencies on the rise again… In the back of his mind he is like: ''We're fucked''

  12. 32 Billion dollars in profit. Who says crime doesn't pay. I know how "he" weathered the storm. We fu*kin paid for his mistakes.

  13. Detroit is messed up because of bad politics. Kwame Kilpatrick was the worse mayor and an example of why we need term limits.

  14. This report says he's good – NO HE'S A JERK! He took millions of jobs, careers, homes, life savings! He's really a creep, he has hurt the economy, he didn't even know how to help his own employee! The answer was give her a raise so he could help her out of a poverty lifestyle. He's a billionaire! He got a gigantic raise for paying only a 5 billion dollar fine to keep JP Morgan Chase out of court! He was in Elizabeth Warren's office and talked about the plans of his company. "That would be illegal" she said. His retort was, "So fine us, we can afford it." He's a creep and deserves to be in prison along with the people serving 10 to 20 for stealing to keep their family alive, he ought to feel the pain he's caused!

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