J.P. Morgan Chase & Co.'s (NYSE:JPM) president and CEO Jamie Dimon was interviewed by Charlie Rose at the Securities Industries and Financial Markets Association's annual meeting on Tuesday, where the Wall Street veteran shared his thoughts the economy, compensation, markets and bailouts.
Asked during the Q&A what he would do if the government asked him to take over another bank during a new financial crisis for the good of the country, Dimon responded among laughter from the audience:
"I was kind of in that situation a little while ago, actually. We were asked to do this with Bear Stearns. I quickly gathered my board and told them that I think this is good for the United States of America, and I think we should do it, but it has to make sense for shareholders."
- George WhiteSee more coverage from this conference:
Johnstone and Kruszewski on client trustFinance execs on reg reform at SIFMAConference Board's Spector on compensationMary Shapiro on the crisis, regulatory overhaul
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JP Morgan Chase is the bank to come out of the crisis in a stronger position than before the crisis. Goldman Sachs is the other. Dimon makes good decisions.