Let's look at lending, where they're using big data for the credit side. And it's just credit data enhanced, by the way, which we do, too. It's nothing mystical. But they're very good at reducing the pain points. They can underwrite it quicker using - I'm just going to call it big data, for lack of a better term: "Why does it take two weeks? Why can't you do it in 15 minutes?"
Jamie DimonI think the way NOW characterized Smith Barney is disgraceful. I am appalled that an organization like that would not have reserved judgment (until) making their own investigation.
Jamie DimonWhen people talk about people being left behind - middle wages have not gone up for years, and we should recognize that, and there I think we need growth and skills - but there are these other people who have been left behind. When I say out loud, "Fifty percent of inner-city schoolkids do not graduate from high school," that is a national catastrophe. We should be ringing the alarm bells. It's not fair.
Jamie DimonWe take smaller companies and middle-sized companies, all around the world, and we do currency exchange for them; we raise bonds and equities for them; and we do inventory finance, trade finance, and custody of assets.
Jamie DimonYou cannot prove this in real time, but when economists 20 years from now write a book on the recovery, it may well be entitled, It could have been much better.
Jamie Dimon