wall street and those from steeped in wall street are saying, jamie, you should make a go of it. run for president of the united states. obviously jamie dimon himself that runs j.p. morgan chase has always hinted of a career beyond the banking. the name does come up a lot. charlie gasparino with us right now with what he makes of that and all of this wooing of another business guy. what do you think? i remember jamie back from the early 90s when neither of us had any gray hairs. he barely had any gray hair there. jamie dimon about two years after that was fired as a senior executive. neil: i remember that. he went into hiatus or awhile, bounced around and became ceo of bank one, i believe it was. merged with j.p. morgan. became the ceo of j.p. morgan and the greatest banker that we have right now. he led j.p. morgan through the
the emphasis is now on the education of members about a default. that s why bankers like jamie dimon of j.p. morgan chase and jane fraser of citi group met with chuck schumer along with other senators today. mr. dimon, did default come up? what was your message to the leader? what would it do to the banking system? actual default would be a disaster. it s been said over and over, you re just repeating it. are you optimistic about a deal? let them worry about that. this is where wall street meets main street. the lead negotiator spoke today at the capitol. a sticking point, workman dates for people to receive some benefits. i asked the speakfer he agreed this needed to be a bipartisan process. he said yes. again, this i believe is a promising step in the right direction. nobody will get everything that they want in these discussions.
plan for what we would do in terms of fiscal policy in march where he talked by reducing the debt by $3 trillion and subsidizing oil and gas companies and the speaker wasn t able to get a plan through the house until the end of april. when he did that, the president called him and called congressional leaders together to have a conversation about what we do about fiscal policy and that s what we re doing today, but as we have that conversation there is no reason why we shouldn t raise the debt imwellity and prevent default in this country that would cost us millions of jobs. one of the questions is do we even have to get to the place of default for economic troubles to loom? certainly we saw that in 2011. the ceo of j.p. morgan chase, jamie dimon warns that even flirting with the default like what happened in 2011 could cause panic in the market. the speaker says he wants a deal this week. we heard some signs of hope from
that s a big difference. how do you see it settled? you know more about the politics of this, neil, than i do. the fed is not a political position. so however they sort it out, whatever the negotiations, whatever the details, they just need to do it before we default on treasuries. because what are we going to pay the the military has to be paid. the veterans benefits, medicare, social security. neil: you hope cooler heads prevail. while i have you, i want your thoughts with all the banking stuff going on, you can t address individual banks. i get that. the irony of this situation is bigger banks get bigger. could you have envisioned at the time of the meltdown and coming out about institutions considered to be to fail, now we have a j.p. morgan chase that counts for one out of five deposits in this country?
for what he called a threat to all musicians. this will iron it out when ai writes the song. let s take a look at the dow joneh day on thi. so take a look at what for the . a ton of red inc. another u.s. bank runs into trouble. pacific western says they re considering all options including a sale of their bank. the feds had to take over first republic and flipped it and sold it to j.p. morgan chase. here s what president biden said then. regulators have taken action to facilitate the sale of first republic bank. i m sure all depositors are protected and the taxpayers are not on the hook. these actions are going to make sure that the banking system is