JPMorgan Chase CEO Jamie Dimon spoke at a financial conference in New York:
- “You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane,”
- “Right now, it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle this,” ... “That hurricane is right out there, down the road, coming our way.”
- nobody knows if the hurricane is “a minor one or Superstorm Sandy,”
Dimon advises:
- “You’d better brace yourself,”
- “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”
