Seeing way too many people treating this market as a run or the mill sell off, the likes of which we have seen regularly 2009-2019…

by

JAMIE DIMON WARNS: We’re getting a ‘bad recession’ plus ‘financial stress’ like the 2008 crisis

  • JPMorgan Chase chief Jamie Dimon said he expects the coronavirus crisis to include a “bad recession” and elements of financial strain similar to the 2008 downturn.
  • In his annual shareholders letter, Dimon also warned that the bank may have to consider suspending its dividend if the economy reaches “extremely adverse” conditions.
  • As the economy worsens and loan losses mount, regulations put in place after the last crisis a decade ago would begin to constrain the bank, Dimon warned.
  • He added that while JPMorgan “will participate in government programs to address the severe economic challenges, we will not request any regulatory relief for ourselves.”