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JPMorgan CEO: Banks <i>Are</i> Lending
By
Jen Chung
Published Feb 3, 2009
Modified Feb 3, 2009
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By
Jen Chung
Published Feb 3, 2009
Modified Feb 3, 2009
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At a Crain's New York forum this morning, JPMorgan Chase CEO Jamie Dimon told the audience that his bank had made $100 billion in loans since getting bailed out: "He immediately added, however, that banks have tightened credit because the recession has chilled demand for new loans. He also said banks are wary because of the huge losses they still face, reminding the audience that J.P. Morgan expects to lose $10 billion next year just from dud credit card loans." Dimon thinks the Fed should regulate all parts of the financial system and also defended bonuses to executives, pointing out many of his execs were given bonuses in JPMorgan stock, whose value has plummeted. Wonder what he thought of Paul Krugman's Bailouts for Bunglers column in the Times yesterday.
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credit
jamie dimon
JPMorgan Chase
lending
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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