This guy really needs to shut up and focus on running his bank. The real stifling of economic growth came from the banks playing like Vegas gamblers. If they could have controlled themselves with self-regulation as they promised, we wouldn't have millions more unemployed and an economy in tatters. Regulations are not the problem. Selfish and irresponsible people like Dimon are the problem. Funny how he and the rest of that industry didn't mind accepting government handouts when it kept them afloat but now they're against government intervention. Any time the bankers want the Fed to stop feeding them free money, just say the word.
New international bank capital standards are excessive and may impede economic growth, JPMorgan Chase Chief Executive Jamie Dimon warned on Tuesday.
"It will stifle economic growth and I already believe it is," said Dimon, who was speaking at the annual spring meeting of the Council of Institutional Investors.
The new Basel III rules being phased in over several years from 2013 will roughly triple to 7 percent the minimum core capital a bank must hold to withstand shocks and spare taxpayers from footing the bill in the next financial crisis.
