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JPMorgan Chase [JPM
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] CEO Jamie Dimon joined us live on "Squawk Box" and shared his thoughts on the "bad bank" idea for bailing out the financial system as well as the lending environment.
Here's some excerpts:
Dimon says the plan is "one tool in the tool kit" in that "some banks don't need it at all. while its a "great vehicle" for others.
"We have some banks that aren't going to make it," says Dimon, adding that the government should let them go out of business "rather than put them on permanent life support."
Dimon also says claims that banks are not lending are largely unfounded.
"Every bank I talk to says we're lending," says Dimon.
He says Chase has lent some $100 million in the past 90 days, for car loans and other normal consumer-business needs.
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