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JPMorgan CEO Jamie Dimon says America’s treatment of private-sector businesses is at a “reset moment,” following the appointment of several executives to key cabinet positions.
President-elect Donald Trump filled his cabinet with “very qualified people who are patriots,” Dimon said in an interview with Bloomberg’s Megan Murphy.
145 million people work in America; 125 million of them work for private enterprise; 20 million work for government-firemen, sanitation, police, teachers. We hold them in very high regard. But you know, if you didn’t have the 125 you couldn’t pay for the other 20. Business is a huge positive element in society. But for years it’s been beaten down as if we’re terrible people. So I think it’s a good reset.
Dimon, who was reportedly considered for Treasury secretary, said he did not think he was suited for the position. But he did not rule out a future role in government, saying he would never turn down a call from the US president.
Some of Trump’s picks, including two from Goldman Sachs, raised some eyebrows since the president-elect had criticized his opponents’ ties to the bank while campaigning.
Dimon said he’s not sure what he would do after he leaves the bank, but it won’t be running another big corporation.
“When I leave here, I’ll probably teach a little bit,” Dimon added.
“I may write a book. I have been through a lot. I’m lazy, so I’ll probably go to New York City and maybe join or start an entrepreneurs of color fund like we have here in Detroit. It’s going to be a gas. I’m going to do a lot of stuff. But I will not run another major big company.”
Dimon supported President Barack Obama in 2008 and during the aftermath of the financial crisis. But as post-financial-crisis Dodd-Frank regulation started to impact the American financial system, however, he became much more critical.
Dimon said the public’s negative perception of large banks, driven in part by the bailouts they received after the financial crisis, is not going away “for a long time.”