JPMorgan Chase CEO Jamie Dimon says he’s making ready the largest U.S. financial institution for an economic hurricane on the horizon and suggested buyers to do the similar.
“You know, I said there’s storm clouds but I’m going to change it… it’s a hurricane,” Dimon stated Wednesday at a monetary convention in New York. Whereas situations appear “fine” at the second, no one is aware of if the hurricane is “a minor one or Superstorm Sandy,” he added.
“You better brace yourself,” Dimon informed the roomful of analysts and buyers. “JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet.”
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