Dimon Says ?Not Every Company? Responsible for Wall Street Pay

JPMorgan has taken $29.5 billion in losses, writedowns and credit provisions since the start of the financial crisis.

Dimon also said the Federal Reserve should have the authority to regulate all companies within the banking system, including investment banks. Regulators lacked powers to oversee such firms before Bear Stearns Cos. and Lehman Brothers Holdings Inc. failed last year, Dimon said.
?If you?re going to regulate, you?ve got to regulate all of it,? Dimon said. ?If you don?t, you?re going to end up here again with all of these problems.?

Talk of nationalizing the banks should ?stop? since many institutions remain healthy, he said. Some lenders will fail, while others will need government aid to make it through the financial crisis, he said. The U.S. should help those firms that need it and should price that aid to recoup losses, Dimon said.