Jamie Dimon Says He's Unsure If Elizabeth Warren Understands Global Banking System

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon took aim at U.S. Senator Elizabeth Warren, a critic of large banks, as he expressed broad concerns about leadership in Washington.
“I don’t know if she fully understands the global banking system,” Dimon, speaking Wednesday at an event in Chicago, said of the Massachusetts Democrat. Still, he said he agrees with some of her concerns about risks.
Warren, a Senate Banking Committee member, has won popular support and gained influence in her party by openly challenging the size of large lenders and their political power. She has said it was a mistake for the U.S. government to refrain from breaking up big banks, such as Citigroup Inc., after the 2008 financial crisis. Last month, as firms including JPMorgan pleaded guilty to resolve probes into market-rigging, she criticized regulators for granting waivers that let the companies continue operating certain businesses.
Dimon, who runs the largest U.S. bank by assets, said he would meet with Warren any time she wants. A spokeswoman for the lawmaker declined to comment. In an April speech, Warren, a former professor, chided “finance guys” who assert she and others can’t grasp their business.
“The finance guys argue that if you’re never in the club, you can’t understand it, but I think they have it backward,” she said. “Not being in the club means not drinking the Kool-Aid.”