Chris Ratcliffe / Bloomberg
The banking turmoil
Dimon on the turmoil in the banking sector: "Overreaction"
JP Morgan CEO Jamie Dimon fears regulators will overreact in their response to the banking turmoil that rocked the financial sector in March, Bloomberg reports.
- I think the situation for banks will get worse - more regulations, more rules and more requirements, he says in a televised interview with the news agency.
When regulations are exaggerated, some local banks find that the staff working to ensure that the rules are followed is larger than the one working with loans, he underlines.
Donald Trump. Michael Conroy/AP
US debt ceiling
Trump: Bankrupt better than spending like drunken sailors
If Democrats don't want to implement massive cuts, Republicans in Congress should let the US move towards debt defaults. Former President Donald Trump said so in a statement, reports the FT.
Trump later said he didn't think it would go that far, because Democrats "will eventually give in," but added that default would be a better solution than continuing as it is now.
- We spend money like full sailors, he said.
The statement comes at a turbulent time for the United States, where there are concerns that the row over the debt ceiling will plunge the country into economic disaster.
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