JP Morgan's Dimon offers sweeping view of challenges facing US and world in pandemic year, highlighting inequality

Published Apr 07 2021 at 10:59 AM GMT
  • Chairman and CEO Jamie Dimon published his annual letter to shareholders on Wednesday, and as usual offered a broad review of the state of the world after a year of a global pandemic, focusing on the role of a corporation, lessons from leadership and U S' public policy and the widening wealth gap.
  • "Our nation is clearly under a lot of stress and strain from various events: the COVID-19 pandemic, of course, which has taken more American lives than the total lost in World War II, the Korean War and the Vietnam War combined, resulting in acute economic distress for millions more; the brutal murder of George Floyd and the racial unrest that followed; the divisive 2020 presidential election, culminating in the storming of the Capitol and the attempt to disrupt our democracy; and the seemingly inevitable, but nonetheless alarming and unnerving, rise of China, threatening America's global preeminence," Dimon wrote.
  • America has "faced tough times before," he said, adding that these problems are fixable.
  • But first the institutions that have lost the trust of the people -- governments, schools, media and businesses -- must regain it and understand that the underlying problem is inequality.
  • ".The enormous wealth of our country is accruing to the very few," he said.


  • Published Apr 7, 2021 10:59 AM GMT