It was JPMorgan CEO Jamie Dimon who offered the “knife-fight” remark which Massey references, in late October last year. Objecting to a range of regulatory efforts that he felt were ill-conceived, “It’s time to fight back,” Dimon asserted in remarks offered at an industry conference.1 “We are suing our regulators over and over and over because things are becoming unfair and unjust, and they are hurting companies,” Dimon insisted. “We don't want to get involved in litigation just to make a point, but if you're in a knife fight, you better bring a knife and that's where we are.”
Dimon sounded somewhat more optimistic during the firm’s investor day presentation last month, suggesting that newly installed Trump administration appointees were likely to roll-back past efforts to impose higher capital standards and other regulatory burdens.
This content is available to both premium Members and those who register for a free Observer account.
If you are a Member or an Observer of Starling Insights, please sign in below to access this article.
Members enjoy full access to all articles and related content from past editions of the Compendium as well as Starling's special reports. Observers can access a limited number of articles and may purchase articles on an ala carte basis.
You can click the 'Join' button below to become a Member or to register for free as an Observer.
Join The Discussion