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JPMorgan’s Dimon: America needs big banks

That is complete bull****. America needs big banks like it needs a hole in the head.

Justice League


Star Tribute:

The chief executive of the largest bank in the United States took time in his annual shareholders letter to enumerate the benefits of banks like his not just for American multinationals and countries around the world, but also for community banks. He mentioned neither Sen. Bernie Sanders — who has pledged to break up the big banks as part of his presidential campaign — nor Kashkari in the letter, but warned generally against picking fights with large financial institutions.

“America faces enough real challenges without inventing conflict where none need exist,” Dimon said. “Banks of all sizes do themselves and their stakeholders better service by acknowledging the specific value different types of institutions offer.”

Kashkari, who has now been president of the Minneapolis Fed for just over three months, caused a stir in February when he said he and the economists at the regional bank would come…

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