JP Morgan (JPM) Says It Has Substantial Capital

JPMorgan Chase's (NYSE: JPM) CEO, Jamie Dimon, said in Davos that JPMorgan has "plenty of capital" and wants our governments to quit talking about nationalizing banks.

"JPMorgan would be fine if we stopped talking about (the) damn nationalization of banks ... we've got plenty of capital," Jamie Dimon said at the annual meeting of the World Economic Forum, Reuters reported.

To prove that JP Morgan is fine, Jamie Dimon said JP Morgan had lent $150 billion in the last 90 days including $50 billion in the interbank market, also to European and British banks, but added: "It's scary because at the end of the day you have to survive."

"I'm hoping by the end of the year we're coming out of the crisis," he told journalists. Dimon also said, "I haven't yet seen people get all the right people in a room, close the damn door and come out with a solution."

Finally, Dimon does support the idea of creating a bad bank and removing the toxic assets off major banks' balance sheets.

Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!
JPMorgan Chase & Co. is a financial holding company.

You May Also Be Interested In

• Hertz cuts guidance, announces notes and stock offerings, shares sink
• Fiserv Announces Results of Tender Offers for Any and All of its Outstanding 5.150% Senior Notes due 2027 and 4.400% Senior Notes due 2049
• SK hynix files for Nasdaq IPO under ticker symbol SKHY