Jamie Dimon Says Hedge Funds Are "Dancing in the Streets" as Regulators Prepare to Jack Up Bank Capital Requirements
JPMorgan Chase's (NYSE: JPM) CEO Jamie Dimon has not been shy about how he feels about regulatory capital requirements. Not only does Dimon find the requirements to be nonsensical, but he also doesn't think they are in the best interest of the banking system or consumers.
With regulators preparing to finally implement the last remaining capital requirements first inspired by post-Great Recession banking reform, known as Basel III Endgame, banks are bracing for higher capital requirements.
And if you ask Dimon, the new requirements are expected to be a big win for hedge funds and private equity. "They're dancing in the streets," Dimon said on JPMorgan's recent earnings call. Here's why, and how these new capital requirements could impact the nation's largest banks.
Source Fool.com
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