Jamie Dimon Quotes
We do all that [ represent companies], because we have a lot of research in Japanese companies, and that research educates investors around the world. It allows us to sell stocks and bonds in Japanese companies.
Dimon, Jamie. Interview. Nikkei Asian Review, 2016.
When the stock market crashed, the Board of Governors was entertaining the idea of putting a syndicate of banks together or back some financiers who would buy up the stock that people were trying to sell. There were those who wanted to sell but no buyers at any price. They concept of a market was being destroyed. Lamont correctly explained that the idea was not practical—it was too late for that. Lamont however had underestimated the market crash and made a feeble effort to assist President Hoover make his feeble effort to get the American economy going again.
This may have been the worst stock market advice ever sent to customers. The Great Depression would suppress the economy of more than a decade.
Jamie Dimon is an American billionaire businessman. He is the chairman and chief executive officer (CEO) of JPMorgan Chase, the largest of the big four American banks, since 2005 and was previously on the board of directors of the Federal Reserve Bank of New York. Dimon was included in Time magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people. Dimon's net worth is estimated at $1.7 billion.