JP Morgan CEO Dimon: No such thing as ‘too big to fail’

Major banks shouldn’t be considered “too big to fail” — regulators should have the power to close even the largest institutions, said JPMorgan Chase & Co. CEO Jamie Dimon. (Denver Business Journal)

Dimon, writing in The Washington Post against proposed policies that would put caps on bank size, said banks should be allowed to get as big as they like, but that the regulatory system should be structured to allow for large failures.

If a large bank becomes unsound, bank regulators should be given the power to replace top management, sell assets, wipe out shareholders and cancel unsecured debts, he argued.

Read the full story at denver.bizjournals.com.