Jamie Dimon Turns Philosophical About JPMorgan’s Regulatory Problems

It was slightly unnerving.
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The old Jamie.

Yesterday JPMorgan Chase mildly wowed Wall Street with some decent first-quarter numbers. Maybe that gave Jamie Dimon a bit of peace. Maybe he really does believe the regulatory clouds are clearing, contraryevidence notwithstanding. Or maybe he just realizes that publicly whining about what a raw deal JPMC gets doesn’t do any good, and he’s keeping his real feelings to himself. Whatever it is, JD was not his pugilistic self yesterday.

The CEO and chairman of J.P. Morgan Chase & Co., has spent recent quarterly calls with analysts and journalists railing against U.S. regulators and the new era of post-crisis banking. Tuesday he stayed almost entirely mum on both calls….

When asked on a call with journalists what he had to say about how banks could be “under assault” when J.P. Morgan delivered better-than-expected revenue and profits in the first quarter? Mr. Dimon joked about whether his long letter had missed covering any of that….

He did address those issues in his annual letter, blaming legal and regulatory costs for weighing on the firm’s share price. Yet he said that those costs will “diminish” over time.

No Rebukes For Regulators? Jamie Dimon Stays Mostly Silent. [WSJ MoneyBeat blog]
J.P. Morgan’s Earnings Rise on Strong Trading Results [WSJ]

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