Tag Archives: JPMorgan CEO on housing: We made too many mistakes

In a letter to shareholders JPMorgan ($44.34 -0.07%) Chief Executive Jamie Dimon admits that his bank contributed to the collapse of the American housing industry, but says that progress is being made to rectify the errors. “We were one of the better actors in this situation — but not good enough,” Dimon says. “We made too many mistakes.” Dimon tells shareholders that his bank participated in the disaster by originating mortgages that wouldn’t have been given a decade earlier (“and won’t be given a decade later”). When delinquencies and foreclosures […]