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Remember that banks aren't markets. the market is amoral. the market doesn't care who you are. you're a trade to the market. the market will sell you if they think you're riskier. banks didn't do that
-Jamie Dimon
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Remember That Banks Aren't Markets. The Market

Jamie Dimon
Remember that banks aren't markets. the market is amoral. the market doesn't care who you are. you're a trade to the market. the market will sell you if they think you're riskier. banks didn't do that
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I have great, great confidence in our capital markets and in our financial institutions. our financial institutions, banks and investment banks, are strong. our capital markets are resilient. they're efficient. they're flexible.
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There are markets extending from mali, indonesia, way outside the purview of any one government which operated under civil laws, so contracts weren't, except on trust. so they have this free market ideology the moment they have markets operating outside the purview of the states, as prior to that markets had really mainly existed as a side effect of military operations.
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The american people want to make sure that the rules of the game are fair. and what that means is that if you look at surveys around americans' attitudes on trade, the majority of the american people still support trade. but they're concerned about whether or not trade is fair, and whether we get the same access to other countries' markets that they have with us. is there just a race to the bottom when it comes to wages, and so forth.
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People often panic when the markets go down and sell off their stocks - but then they aren't in the game when the markets are doing well.
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In certain circumstances, financial markets can affect the so-called fundamentals which they are supposed to reflect. when that happens, markets enter into a state of dynamic disequilibrium and behave quite differently from what would be considered normal by the theory of efficient markets. such boom/bust sequences do not arise very often, but when they do, they can be very disruptive, exactly because they affect the fundamentals of the economy.
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Once you start moving [market] lower, then you trigger of all sorts of things. you trigger people who have to sell because they're over-levered. so they sell their winners and their losers. they're just trying to raise cash. so, what you then get is spreading malaise throughout the global markets.
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