Chase CEO blasts US government business policies

JP Morgan Chase's Chairman and CEO Jamie Dimon.
JP Morgan Chase's Chairman and CEO Jamie Dimon.

Credit: AFP Contributor

Credit: AFP Contributor

The CEO of JPMorgan Chase criticized the U.S. government during the company's quarterly earnings conference call on Friday,  calling it "almost an embarrassment" being an American citizen, CBS News reported.

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Jamie Dimon, responding to a question from UBS analyst Saul Martinez about the effect political gridlock might have in stunting the nation’s economic growth, made a pointed remark.

“It’s almost an embarrassment being an American citizen ... and listening to the stupid (stuff) we have to deal with in this country,” Dimon said. “I was just in France, I was recently in Argentina, was in Israel, was in Ireland.

“ We met with the prime minister of India and China. It’s amazing to me that every single one of these countries understands that practical policies that promote business business and growth is good for the average citizens of these countries,” he said. “... Somehow, this great American free enterprise system, we no longer get it.”

Dimon said that America's muted economic growth was the result of "bad policies." CNN reported.

“What I am saying is, it will be much stronger growth had we made intelligent decisions and we were not gridlocked,” he said.

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