Opinion

Dimon’s Bank Can Ride a Storm of Rules

By Roy Smith, Kenneth Langone Professor of Entrepreneurship and Finance & Professor of Management Practice
October 17, 2011

Jamie Dimon has been getting a lot of attention lately for his impassioned bashing of Basel III as too tight on capital terms and too loose on risk standards for European banks. Had he been more diplomatic, probably no one would have listened.

Dimon believes that the world needs large, complex banks like JP Morgan Chase, which survived the crisis intact, to pull the world economy out of its slump; but even JP Morgan is in danger of being eviscerated by over-eager, ill-informed regulators performing a politically correct purification ritual well after the crisis.

He has a point; in fact, two good ones.

Read full article as published in Financial News.