Jul 14, 2011

Jamie Dimon on US debt default

It's imperative that that debt ceiling be fixed and it's imperative the United States shows fiscal discipline. They're both important not just for the health of the United States, but the financial health of the world.

No one, no one can tell me with certainty that default wouldn't cause catastrophe. Therefore it's irresponsible to take that chance. It's not possible that someone can say with a straight face that the default of the United States wouldn't damage the United States and the global economy. Why take that chance? I would never take that chance.

Jamie Dimon, chairman and CEO, JP Morgan Chase, 2nd Quarter 2011 conference call, July 14, 2011

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