Comments last month by J.P. Morgan Chase’s CEO saying he’s more worried about California’s solvency than Greece’s are finding new life as they circulate around the web.
Jamie Dimon made the remarks at an investor conference Feb. 25.
Outlets like the Huffington Post, a widely read political blog, posted the comments on Monday.
?Greece itself would not be an issue for this company, nor would any other country,? Dimon said. ?We don?t really foresee the European Union coming apart.?
But given California?s size, the state?s financial woes could spill over into other states, Dimon said.
Chase (NYSE: JPM) became a major financial institution in California in 2008 when it purchased the failed banking operations of Washington Mutual.
A few things on this. The truth was Washington Mutual was not failing at the time and If Chase would help home owners things would not be this bad.