JPMorgan Chase CEO Jamie Dimon says bankers are “dancing in the street” after Donald Trump’s presidential election win.
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00:00Whether you voted for Trump or Joe Biden, a lot of bankers, they're dancing in the street
00:05because they've had successive years and years of regulations, a lot of which stymied credit.
00:12You could have kept the banks equally safe, but had them do more credit.
00:16And so just to give an example, the average bank in America, I think the number is,
00:20used to have $100 of deposits and $100 of loans, and now it's $100 of deposits and $65 of loans.
00:26And if that's what you want, if for some reason the regulators think they're geniuses,
00:30that's the best way to run the banking system, so be it.
00:32But I think they did a lot of things that ended in that answer,
00:35but they didn't know that was going to be the outcome.