JPMorgan's Jamie Dimon Say Regulatory System Needs A Major Overhaul

While speaking at the SIEPR Summit, JPMorgan's (NYSE: JPM) Jamie Dimon said, "its pretty obvious that our regulatory system needs a major overhaul."

Dimon continued, "what we need is good regulation, it is really not a question of more or less. It is to make sure it is good and effective and it needs to be based on facts and analysis and not on populism."

Dimon said it is not true that all banks would have failed during the crisis, in fact he said JPMorgan put in more than $65 billion into the interbank system.