GO
Loading...

Dimon Has Right to Opinion; I Disagree: Corzine

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.

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.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Private Jet

    Like migrating birds, private jet setters follow a basic instinct when it comes to their flight paths: They follow better weather.

  • Fake Apple Watches... can you tell the difference?

    CNBC's Eunice Yoon reports Apple Watch is officially available today but already fake watches are hitting the streets.

  • Alphorn players perform in Nendaz, Switzerland.

    Switzerland is the happiest place on Earth, thanks to its high performing GDP and healthy life expectancy rates of its citizens.

U.S. Video