Eric Holder The Only Thing Standing Between Jamie Dimon And Increasing Profits


Jamie Dimon isn’t convinced that JPMorgan Chase would be better off with him running only half of it. He is convinced that it would be better off if the Feds stopped taking their $1 billion of flesh every quarter. Alas, he can’t promise that they will.

The bank’s chief financial officer, Marianne Lake, said on an earnings call with media that the bank is having an “ongoing dialogue” and there are “no assurances….on a final conclusion.” The reserve is the bank’s “best estimate at this point in time, but obviously these things can continue to change….”

More generally, Chief Executive James Dimon said the bank has at times found itself “under assault” by multiple regulators and investigations over the same issue. He said it is “a hard thing to deal with, we’re trying to….we’re doing it nonstop.”

J.P. Morgan’s Profit Falls on Higher Legal Expenses [WSJ]