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Jamie Dimon Sounds Really Bummed About Being an American Right Now
After returning from a work trip abroad, JPMorgan Chase CEO Jamie Dimon railed against the problems plaguing America during a conference call with analysts, as Bloomberg reports.
And the Trump Administration might be happy to know that the main target in Dimon’s crosshairs is the president’s most loathed enemy: the media.
“It’s almost an embarrassment being an American traveling around the world,” Dimon, 61, said on a conference call with analysts. He doesn’t like listening to the “stupid shit” Americans have to deal with, expressing frustration over the nation’s inability to invest in infrastructure and overhaul the tax code. “There would be much stronger growth if there were more intelligent decisions and less gridlock.”
Dimon heaped his ire on the U.S. media during an earlier call with reporters to discuss JPMorgan’s second-quarter results. Reporters should focus on the major issues the nation faces rather than the vagaries of the firm’s trading businesses, he said.
Dimon, who sits on President Trump’s advisory council of business leaders, criticized the U.S. government, but did not blame the current administration. Instead, he seemed to fault years of “bad policies” that have come before Trump took office.
Dimon, his voice rising, reeled off statistics to highlight the nation’s failures: Half of the kids in “inner-city schools” don’t graduate; the opioid epidemic claims 35,000 lives a year; and the U.S. hasn’t built a major airport in 20 years, he said.
Dimon had just returned from visiting Israel, Ireland and France, where governments “deeply recognize” the importance of a competitive corporate tax scheme, he said.
If it makes Dimon feel any better, JPMorgan just posted the most profitable year in the history of banking.
Photo: Public Domain