Finance went from being a small business, effectively, to being a big business. In part, that's the growth of the world's wealth. That's called savings.
Jamie DimonWe don't think there are cases where people were evicted out of homes when they shouldn't have been.
Jamie DimonAt Travelers, we were much more opportunistic. It was very successful, but it wasn't an integrated financial services company. We had a property casualty company, a life company, a brokerage company. We were a financial conglomerate. It wasn't a unified, coordinated strategy of any sort. When it merged with Citi, that became a big issue; Citi, at that time, wasn't yet a fully integrated, coordinated company.
Jamie DimonAfter the tsunami in Japan, we were open for business. In fact, I flew there 10 days after the tsunami to show our support for the Japanese people.
Jamie DimonThe toughest are people mistakes, when you put the wrong person in a job. Sometimes you're too slow to move them out. Or not getting the right people involved to solve a problem, or doing something out of anger; you learn, just don't do that. But I'd have to say the Whale was one of them, and I would also have to put Bear Stearns and Washington Mutual on the list at this point.
Jamie Dimon