Jamie Dimon Fears Regulations Are Hurting the Economy. Do You?

Townhall.com Staff
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Posted: Jun 08, 2011 1:43 PM
Jamie Dimon Fears Regulations Are Hurting the Economy. Do You?
Ben Bernanke made headlines and moved markets Tuesday when he said the economic recovery was lagging the Federal Reserve's expectations. He did, however, say he expects things to pick up in the second half of the year.

Speaking at a banking conference in Atlanta, Bernanke was also taken to task by JPMorgan Chase CEO Jamie Dimon, who told the Fed chairman he fears new financial regulations are harming the banking industry and the economy. "Has anyone bothered to study the cumulative effect of all these things?" Dimon asked of the new rules. Addressing Bernanke, he asked, "Do you have a fear, like I do, that when we look back and look at them all, that they will be a reason it took so long that our banks, our credit, our businesses and, most importantly, job creation started going again?"

Bernanke told Dimon the regulatory changes made him feel "pretty good" and asserted they are intended to prevent another financial crisis.