Jamie Dimon Derides Confusing Financial Rules

    Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., used his annual letter to shareholders to rail against ‘contrived and confusing’ financial rules that he said may stymie lending. Dawn Kopecki reports on Dimon’s letter, released yesterday, on Bloomberg Television’s.

    “We have hundreds of rules, many of which are uncoordinated and inconsistent with each other.”

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    “Complexity and confusion should have been alleviated, not compounded.”

    Dimon is either bluffing or does not understand the rules. If it is the later, it is quite scary, since he is the CEO of arguably the most powerful bank in the country.

    I think Dimon and Corzine are both out of the running now for Tres Sec if Obama (unfortunately) is re-elected: