Jamie Dimon on Banking Turmoil: ‘This Wasn’t the Finest Hour for Many Players’
April 11, 2023 by David Benoit
JPMorgan increase; green up pointing triangle Chase & Co. Chief Executive Jamie Dimon said industry turmoil sparked by the failure of Silicon Valley Bank last month is nothing like the 2008 financial crisis, but it will nonetheless have repercussions for years.
In his annual letter to shareholders released Tuesday, the head of the country’s largest bank said the current crisis “involves far fewer financial players and fewer issues that need to be resolved” than in 2008, when $1 trillion worth of dodgy mortgages threatened to bring down the entire financial system.
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