JPMorgan CEO says Whitney was Right: A Hundred Municipalities Won't 'Make It'
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JPMorgan CEO says Whitney was Right: A Hundred Municipalities Won’t ‘Make It’
By Dawn Kopecki
JPMorgan Chase & Co. (JPM) Chairman and Chief Executive Officer Jamie Dimon said some municipalities will need to renegotiate debt and a hundred may not “make it.”
“I wouldn’t panic about what I’m about to say,” Dimon, 55, said today at a U.S. Chamber of Commerce event in Washington. “You’re going to see some municipalities not make it. I don’t think it’s going to shatter America, I just think it’s a part of the credit cycle.”
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