Jamie Dimon says auto company bankruptcies reveal ‘early signs’ of excess in corporate lending
From cnbc.com
JPMorgan Chase CEO Jamie Dimon said Tuesday that bankruptcies in the U.S. auto market are a sign that lending standards grew too lax in the past decade-plus. Dimon, the longtime leader of the largest U.S. bank by assets, was speaking about the recent collapse of auto parts firm First Brands and subprime car lender Tricolor Holdings. “We’ve had a credit bull market now for the better part of what, since 2010 or 2012? That’s like 14 years,” Dimon told CNBC on a call with reporters. “These are early signs there might be some excess out there because of it,” Dimon said. “If we ever have a downturn, you’re going to see ...
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