JPMorgan Chase Executive Jamie Dimon said during his company’s earnings call Friday that he is embarrassed to be an American citizen because businesses continually have to deal with what he described as America’s “stupid shit.”
Dimon is referring to the political gridlock in Washington that hampers reforms such as tax reform.
He noted that “in spite of stupidity and political gridlock,” the U.S. economy still managed to post modest growth since the financial meltdown.
But the CEO of the country’s largest bank said that economic growth would have been stronger if politicians in Washington had been able to make intelligent decisions and rise above their differences.
Dimon, who turned down President Donald Trump’s offer to become Treasury Secretary last year, is known to make outspoken comments.
“We have become one of the most bureaucratic, confusing, litigious societies on the planet… It’s almost an embarrassment being an American citizen traveling around the world and listening to the stupid shit we have to deal with in this country,” he lamented.
100% Fed Up reports:
JPMorgan Chase CEO Jamie Dimon went on a rant about the dysfunction in DC during the company’s earnings conference call Friday: The U.S. has become “one of the most bureaucratic, confusing, litigious societies on the planet”
Dimon had been considered for a position in President Trump’s cabinet. He’s been an adviser to Trump too. While there are some things Dimon clearly disagrees with the president on, they are able to work together: “He is the President of the United States. I believe he is the pilot flying our airplane,” Dimon said, “I would try to help any President of the United States because I’m a patriot.”