Dimon’s $770 Million Windfall Shows How Banking Is Great Again
The New York Times••business
Key Points:
- Jamie Dimon, CEO of JPMorgan Chase, uses a detailed "spaghetti chart" to illustrate the complex web of regulations his bank faces, highlighting the extensive oversight in the industry.
- The Trump administration has actively dismantled many post-2008 financial crisis regulations and targeted regulatory agencies designed to restrain risky banking behaviors.
- Regulatory changes under Trump have relaxed rules, allowing banks to engage more freely in risky activities such as cryptocurrency trading.
- Enforcement of certain laws, including foreign anti-bribery regulations, has been paused, further easing constraints on banks.
- This deregulatory environment has created an exceptionally favorable period for bankers, marking the most advantageous regulatory climate in a generation.
