Go Symbol Lookup
Loading...

Dimon Has Right to Opinion; I Disagree: Corzine

 Text Size  
Published: Thursday, 9 Jun 2011 | 4:04 PM ET
By:

Special to CNBC.com

Jamie Dimon has a right to his opinion. Jon Corzine doesn't share it.

Corzine, chairman of cash and derivatives broker-dealer MF Global, told CNBC Thursday he understands why JPMorgan Chase Chief Executive Dimon would complain to Federal Reserve Chairman Ben Bernanke publicly about overreaching financial regulations when he had the opportunity during a televised banking conference Tuesday.

Corzine Weighs in on Regulations
Discussing banks & Fed regulations, as well as the economy and global growth, with Jon Corzine, MF Global chairman/CEO.

The banking executive "had every right to make his opinion that regulations are overreaching," said Corzine, former governor of New Jersey and Goldman Sachs chairman.

"If you’re MF Global , on the other hand, the democratization of markets that comes about through exchange-traded products, through a number of the rules that are evolving, it’s actually a real positive as opposed to a negative," Corzine said. The financial rules are "good for spreading out the risk across the system as opposed to the concentration that we had pre-2008."

Would he have questioned Bernanke the same way? "I don’t know if I would’ve taken that path because I would have done a lot of that work behind the scenes," he said.

He still does not think it likely the U.S. economy will go into a double-dip recession. "We have been on a pathway where we’ve certainly leveled off," he said. Thursday's trade-deficit figures "give a little more encouragement to folks that would argue that we’re not moving into a double dip. But there is a lot of risk, a lot of uncertainties in the marketplace."

Correction: An earlier version of this story misidentified Jamie Dimon's affiliation.

 Print
Citigroup's Jamie Dimon has a right to his opinion. MF Global's Jon Corzine doesn't share it.
  Price   Change %Change
GS ---
JPM MLP ETN ---
MFGLQ ---

   
Comments

 

More Comments

 
 

Add Comments

 

Your Comments (Up to 1100 characters):

Remaining characters

Your comments have not been posted yet.

Please review your submission to make sure you are comfortable with your entry.

Your Comments:


                
            
            
        

Featured

U.S. Video

  • Jeffrey Sonnenfeld, Yale School of Management, weighs in on today's vote. "This is a huge triumph for JPMorgan investors," he says.

  • The Dow and S&P 500 close at record highs. Discussing similarities with today's market rally and the 1980s, with David Bianco, Deutsche Bank, and Abigail Doolittle, The Seaport Group.

  • CNBC's John Harwood reports on new developments in the Congressional investigation of the IRS scandal. Jeffrey Lord, American Spectator, and David Goodfriend, Democratic strategist, discuss.