January 26, 2012
When JPMorgan CEO Jamie Dimon told reporters earlier this month he was in the “increasingly worried category” of people about Europe, there seemed to be a slight departure from his no worries mantra of the past year.
Not so, it appears today.
Greece doesn’t frighten him in the slightest.
“It is not going to take down the Western world,” he said of a possible default of the birthplace of the Western world. “They’re very small in Greece and I don’t think it’ll be that big a deal.”
Dimon has, for more than a year now, steadfastly told anyone who asked that JPMorgan counts its European exposures as business and will not in any way pull-back from lending and serving customers there. While JPMorgan has some $15.9 billion in exposures to the stressed European countries, Dimon has said over and over again the bank would suffer only $3 billion in losses if the world imploded.
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