JPMorgan (JPM) CEO Jamie Dimon is creating an even “larger-than-life” persona for himself in a new New York Magazine article in which the CEO defends the banking industry against excessive regulation, saying: “This is not the Soviet Union. This is the United States of America. That’s what I remember. Guess what? It’s a free F***ing Country.”
Dimon made that statement when discussing his dismay over bankers remaining in a defensive poise when it comes to the new regulatory environment. The CEO told the magazine he recently attended a meeting of small bankers and found the majority afraid to challenge new regulations due to fear of retribution.
Dimon also defended the role of larger banks in the economy, noting JPMorgan can offer large bridge loans to companies like Caterpillar in 40 different countries.
“Size lets us build a $500 million data center that speeds up transactions and invest billions of dollars in products like ATMs and apps that allow your iPhone to deposit a check,” Dimon told the magazine.
He added, “The whole world has become crazy. Businesses get attacked every time they do something.”
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