CNBC Excerpts: JPMorgan Chase Chairman & CEO Jamie Dimon Speaks with CNBC’s Brian Sullivan on “Power Lunch” Today
Following are excerpts from the unofficial transcript of a CNBC interview with JPMorgan Chase Chairman and CEO Jamie Dimon on CNBC's "Power Lunch" (M-F, 1PM-3PM ET) today, Monday, October 3rd. Following are links to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000556153 and http://video.cnbc.com/gallery/?video=3000556152.
All references must be sourced to CNBC.
DIMON ON DEUTSCHE BANK
THERE IS NO REASON THAT DEUTSCHE BANK SHOULDNT GET OVER ITS PROBLEMS. THEY HAVE PLENTY OF CAPITAL AND LIQUIDITY.WE WANT ALL THESE BANKS TO GET THROUGH BECAUSE IT IS BETTER FOR EVERYBODY THAT WE MOVE ON AND HELP DO OUR JOB ITS ABOUT FUNDING SOCIETY.
DIMON ON STUMPF
JOHN STUMPF IS A QUALITY HUMAN BEING AND A FRIEND OF MINE AND I WANT WELLS TO HOPEFULLY GET TO THIS BOTTOM TOO . OBVIOUSLY WHEN THESE PROBLEMS HAPPEN EVERY BANK IS GOING TO BE QUESTIONED ABOUT THEIR PRACTICE AND STUFF LIKE THAT AND EVERY BANK IS GOING TO COOPERATE WHICH THEY SHOULD AND IN DUE COURSE PEOPLE WILL BE DISCLOSING POLICIES AND PROCEDURES. I THINK COOLER HEADS SHOULD PREVAIL SOMETIMES.
DIMON ON BLANKET STATEMENTS
WHEN PEOPLE BLANKET A WHOLE CLASS OF PEOPLE BY MAKING STATEMENTS I THINK IT IS UNFAIR TO EVERYBODY. I CAN DO THE SAME THING ABOUT MEDIA OR POLITICIANS OR LAWYERS. THEY ARE NEVER ACCURATE. THIS BUSINESS IS FULL OF HIGH QUALITY, QUALIFIED TALENTED ETHICAL PEOPLE SMART AND ETHICAL AS YOU FIND IN INSTITUTIONS ALMOST ANYWHERE. SO I WISH PEOPLE WOULD STOP DOING THAT - PEOPLE BROKE THE LAW AND THEY SHOULD BE PUNISHED. LETS TAKE A DEEP BREATH. YOU ALL IN THE PRESS DONT HAVE TO FUEL IT ALL OVER THE TIME BY ADDING TO IT AND OVERSIMPLIFYING IT.
DIMON ON THE INQUIRY
I DONT KNOW ABOUT CONGRESS BUT WE HAVE OBVIOUSLY BEEN ASKED BY MULTIPLE AGENCIES. THIS ALWAYS HAPPENS. THIS IS STANDARD. SOMEONE DOES SOMETHING WRONG IN THE INDUSTRY EVERYONE GETS REQUESTS FROM EVERYBODY ELSE. OF COURSE, WE'LL MEET ALL THOSE REQUESTS.
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