JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, asked about fierce competition across the financial industry, said he’s starting to see parallels to the era before the 2008 financial crisis, when a rush to make loans ended disastrously.
“Unfortunately, we did see this in ’05, ’06 and ’07, almost the same thing — the rising tide was lifting all boats, everyone was making a lot of money,” Dimon told investors on Monday. Bloomberg’s Katherine Chiglinsky breaks down what Dimon said.
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