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JPMorgan should at least study a possible breakup

Jamie Dimon
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Jamie Dimon

JPMorgan investors are shoving their heads in the sand. At the bank's annual meeting on Tuesday, only 2.5 percent of shareholders backed a proposal that the board study the possible benefits of a breakup.

There's less reason to dismember JPMorgan than Citigroup, whose owners dismissed a similar idea last month. The bank run by Jamie Dimon has, after all, consistently performed far better than its rival. But a rigorous examination of the issue would be a useful exercise.