Rescuing a failing bank at the government's request is not worth doing again, because a later administration will make you pay for the sins you inherited.

Drawn from what Jamie Dimon said

What this subject means

government What states are for and what they are worse at than markets and networks: legitimacy, moral hazard, and who may be entrusted with power.

Mental modelSecond-order thinking

What Jamie Dimon actually said

Jamie Dimon 16 Jul 2025 Chairman and chief executive of JPMorgan Chase

So, you while we kind of saved the system a lot, we bailed a lot of people out, they made us pay 5 billion dollars on the more the bad mortgages that Bear Stearns had done. And that's what made me make the statement I wouldn't do it again.

Where this was said
Watch from 0:40:46 plays here
↗The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bankyoutube.com

16 Jul 2025 · video · 1h 06m · spoken · machine transcript

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