JPMorgan CEO Isn’t Sure If Elizabeth Warren ‘Understands’ Banking

The CEO of JPMorgan Chase, Jamie Dimon, on Wednesday took a jab at Sen. Elizabeth Warren (D-MA), questioning her grasp of the banking system.

“I don’t know if she fully understands the global banking system,” Dimon said about Warren at an event in Chicago, according to Bloomberg.

He added that he agrees with Warren on some of her concerns over financial risk and that he would like to meet with Warren.

Warren, a member of the Senate Banking Committee, has railed against “too-big-to-fail” banks and government regulators for not holding financial institutions accountable.

In an April speech, Warren addressed her understanding of Wall Street and criticisms that she doesn’t understand the banking system.

“The finance guys argue that if you’re never in the club, you can’t understand it. But I think they have it backwards. Not being in the club means not drinking the Kool-Aid,” she said. “Yeah, most of the finance guys were smart. But no smarter than a lot of other people I knew — men and women — who did a lot of other kinds of work.”

Dear Reader,

When we asked recently what makes TPM different from other outlets, readers cited factors like honesty, curiosity, transparency, and our vibrant community. They also pointed to our ability to report on important stories and trends long before they are picked up by mainstream outlets; our ability to contextualize information within the arc of history; and our focus on the real-world consequences of the news.

Our unique approach to reporting and presenting the news, however, wouldn’t be possible without our readers’ support. That’s not just marketing speak, it’s true: our work would literally not be possible without readers deciding to become members. Not only does member support account for more than 80% of TPM’s revenue, our members have helped us build an engaged and informed community. Many of our best stories were born from reader tips and valuable member feedback.

We do what other news outlets can’t or won’t do because our members’ support gives us real independence.

If you enjoy reading TPM and value what we do, become a member today.

Latest Livewire
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Investigations Desk:
Director of Audience:
Editor at Large:
General Counsel:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: