Jamie Dimon came to the defense of his fellow bankers on Monday, and went after Hillary Clinton while he was at it.
JPMorgan Chase's chief executive pushed back at the Democratic presidential candidate after she criticized the U.S. banking culture amid Wells Fargo's fake account scandal. "It is outrageous that eight years after a cowboy culture on Wall Street wrecked our economy we are still seeing powerful bankers playing fast and loose with the law," Clinton said on Monday.
In response, Dimon said: "When people blanket a whole class of people...that's just unfair."
Wells Fargo opened credit card, checking and savings account without customers' permission and fired thousands of employees over the course of several years for the deceptive sales practices, without fixing the problem.
Banks have been under a microscope both in the U.S. and abroad. Concerns are enduring about Deutsche Bank, which faces an expected multi-billion dollar fine from the U.S. government for activities prior to the mortgage crisis. Financial markets across the globe were sent into flux last week, amid reports of hedge funds reducing their exposure to Deutsche Bank as well as talks of a possible settlement.
