My father and grandfather were stockbrokers, and they would actually take stock certificates from a vault, give it to a runner, and send it to another vault. Then somebody said, "Let's digitize it and have one vault." Now the DTCC clears and settles almost everything, and the cost of doing a trade is a tenth of what it was before.
Jamie DimonIf you can't use dividends, it's not a bad thing to give it back to your shareholders. They'll use it somewhere else.
Jamie DimonI also believe that most of the emerging economies have a fairly large amount of foreign exchange reserves, relative to 10 years ago.
Jamie DimonAny good job is a good job. This whole concept of a dead-end job? It's not true. I've heard it my whole life. Jobs lead to dignity. If you're good at the first, then you can get the second. Jobs lead to household formation. Jobs are a better solution for society.
Jamie Dimon