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Jamie Dimon on Africa Banking - Helping Future Generations

In Jamie Dimons October 19, 2015 interview with Bloomberg he talks about the future and bankings growing role in the importance of worldwide prosperity. On the Bloomberg interview he talks about the importance of ignoring and not worrying about quarterly earnings. Dimon is here for the longer term and even says well beyond his time here.

With 250,000 employees and 150 countries around the world Dimon says that its impossible to fight the U.S. Government and be dragged through the mud but he is so intelligent that he says he will never jeopardize his company for ego or for an indictment of some sorts. He has been an integral part of saving this countries banking system and obviously does not receive the credit from the U.S. government for all he has done. When you compare our financial situation to that of other countries.

Dimon also says "Im opening banks in Africa to help the next generation thinking long term and for the future. Africa is a place to bank multinationals going in. Not retail." Due to problems with government restrictions in Ghana they were unable to open a few years ago but are going back in now and corporate clients want JP Morgan chase in Africa. The governments remember that Chase helps finance large scale projects and can help a country grow and while his work is not going to directly benefit all of Africa this quarter or Chase shareholders next quarter it is for the future and that is whats so respectable. 

Three Great Words

Simplify, strengthen, and improve.