Jamie Dimon’s letter to JP Morgan (JPM) shareholders is indeed a great one.
Notables:
– “Perhaps the largest regulatory failure of all time was the inadequate regulation of Fannie Mae (FNM) and Freddi Mac (FRE)”
– “Too many regulators – with overlapping responsibilities and inadequate authorities were ill-equipped to handle the crisis”.
If you do not care about Morgan’s results, skip to page 14 where Dimon comments on the crisis. He tackles it causes, the response and what to do going forward to prevent another one.
Here is the letter:
2008 Jamie Dimon Letter to JP MorganShareholder
Disclosure (“none” means no position):None