JPMorgan CEO Warns of Striking Similarities to Pre-2008 Financial Crisis

According to multiple media reports, Jamie Dimon, CEO of JPMorgan Chase, warned during a Q&A session at the company's annual investor briefing held in New York City on the 24th that the current financial market conditions are 'almost the same' as those before the 2008 global financial crisis. 'Regrettably, I am witnessing the same scenario as in 2005, 2006, and 2007. A rising market lifted all boats, everyone was making substantial money, and leverage was used to its limits, as if there were no boundaries,' said Dimon. Furthermore, he noted that some competitors are...