US EditionJPMorgan’s Jamie Dimon sees parallel to pre-financial crisis era as rivals do ‘dumb things’
Jamie Dimon warns that risky lending and high asset prices could trigger a credit downturn like 2008, citing ongoing private credit market stresses and AI disruption risks.
- Jamie Dimon, JPMorgan Chase CEO, warned on Feb 23 that current markets echo the pre-2008 loan rush, and he expects the credit cycle to sour again.
- Fierce competition and a buoyant market are prompting some firms to stretch lending to boost net interest income, Dimon said, while artificial intelligence-driven investor moves have depressed stocks in recent weeks.
- Pointing to internal performance metrics, Dimon noted that in 100 areas, JPMorgan expects to win in 75 and lose in 25, citing recent failures of Tricolor Holdings and First Brands as evidence of potential wider defaults.
- JPMorgan will not chase riskier loans to boost net interest income and will stick to its lending rules even if it costs business, while worries swirl over private credit markets and Dimon warned credit cycles can surprise.
- Given his two-decade CEO tenure, Jamie Dimon's warnings in an investor Q&A about AI disruption in the software sector carry significant weight.
27 Articles
27 Articles
"I see some people doing stupid things just to generate a liquid financial margin," says Jamie Dimon
What's going on in the financial market?
Jamie Dimon Flags AI Hype And Risky Lending As Red Flags
Jamie Dimon, CEO of JPMorgan Chase, warned that soaring asset prices, heavy risk-taking, and excitement around artificial intelligence could set the stage for another financial crisis. Speaking to investors, Dimon said markets today resemble conditions seen before the 2008 crash, with record stock prices creating a false sense of security. He cautioned that some banks are taking on risky loans and leveraging too aggressively, even as warning sig…
Jamie Dimon says AI euphoria, record stocks and banks doing ‘dumb things’ could lead to another financial crisis
JPMorgan Chase CEO Jamie Dimon warned Monday that current financial conditions and banks doing “dumb things” like taking on risky loans could lead to a market meltdown similar to the one before the 2008 financial crisis.
Jamie Dimon has led the largest US bank through the 2008 financial crisis. JP-Morgan's head of lending is reminded of time.
Coverage Details
Bias Distribution
- 38% of the sources are Center, 37% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
