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JPMorgan Chase CEO Jamie Dimon on ending the idea of “too big to fail” and why former Treasury Secretary Hank Paulson was right to ask the bank to...
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Most of our senior correspondent Charlie Gasparino said valid JPMorgan Chase chairman and CEO.
Jamie Dimon today Charlie joins us now Charlie tell -- while it was an interest entity spent about a half hour with them he took just -- he took every question back to Adam.
You know I said this before -- say it again what I find I don't -- a lot of entities as for a few interviews.
He is not afraid to take questions most of these bank CEOs are I mean.
You know listen James Gorman -- runs -- -- Morgan Stanley has the story to tell investors look at Morgan -- stock price.
He continues to duck obvious questions.
Jamie Dimon doesn't Jamie Dimon I think he sees himself kind of as a spokesman for the industry right and he does in a way that he's not supposed to ducked questions and what we -- -- today was kind of interest in a -- spend a lot of different things but specifically right now.
I similar compensation whether it's too high I -- about -- whether he needed the money that was the bailout money back in 2008.
And I -- about too big to fail whether it's still exist and should it still exists here's what he had to say.
Birthday dot com the sort of take JPMorgan comp.
For and I'm from a for five or six years I've been here no special severance packages no change control no parachutes almost no multiyear deals.
Yes it is nothing special here when we did badly might pay was zero we do.
Better -- pay goes up the pace set by the board not set by me and so we've had very good policies here it's always been risk adjusted.
-- member JPMorgan never lost money did need TARP.
Made seven billion dollars in the worst -- -- years.
Never lost money in the quarter our affiliate this year difference it was -- -- you took total asked to take TARP right through doors interest United States for America.
We have by the secretary -- treasury I agree with him by the way and I think it was right.
-- right that is for you to take it it kind of give you black mark with everybody else I know you know I didn't anticipate that and we say -- this is Hank Paulson former -- -- also look I think Hank Paulson you know what Tim Geithner and Ben Bernanke save the system.
And I think they took some very bold and dramatic action and that they had -- -- -- -- think at the precise point in time there wasn't Lehman from wee bit we've had.
Lehman -- move Fannie Freddie know if he wants he was an up huge it was a tsunami of stuff and they realized.
That they had to stop it from -- in -- Warren Buffett called the Pearl Harbor and they took the action.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Because if you if you said to you know -- the CEOs JPMorgan time that doing.
