JPMorgan Chief Addresses the E.S.G. Backlash
Summary
Mr. Dimon also addressed a wide range of topics including the economy, geopolitics and Elon Musk. He expanded on previous comments he had made in which he called our current moment one of the most dangerous in decades. The biggest risks for mankind, he said, are “nuclear proliferation, climate change, and another pandemic.” “We should not be complacent,” Mr. Dimon said. We just forgot.” Mr. Dimon said his other concerns included what would happen if China invaded Taiwan — a move he said would cause a “major depression” — and profligate U.S. government spending, which he likened to “drugs injected directly into our system.” When pressed on the bank’s relationship with ByteDance, the parent company of TikTok that various states have sought to ban over its Chinese ties, Mr. Dimon said that while the bank did not comment on client relationships, it did thorough vetting. He said that if clients were “doing things that we think are truly bad,” JPMorgan would not bank them.