Dimon Sees Parallel to Pre-Crisis Era as Rivals Do ‘Dumb Things’
Bloomberg.com • • business
Key Points:
- JPMorgan Chase CEO Jamie Dimon compared the current competitive environment in the financial industry to the pre-2008 financial crisis period, noting similar risky behaviors.
- Dimon warned that some banks are engaging in imprudent lending practices to increase net interest income (NII), which he described as "dumb things."
- Despite the competitive pressure, JPMorgan is choosing not to take on riskier loans to boost its NII, emphasizing a more cautious approach.
- Dimon's comments highlight concerns about potential instability in the financial sector due to aggressive loan-making strategies by some institutions.
