JPMorgan Fines a Broader Story for Banking: Nakisa

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Oct. 21 (Bloomberg) -- Ramin Nakisa of UBS Investment Bank examines the tentative agreement by JPMorgan to pay a $13 billion settlement to end civil claims over its sales of mortgage bonds and fines being levied against banks by the United States. He speaks on Bloomberg Television’s “On The Move.”

Confident in jamie dimon?

There is a boulder story about the banking sector in general.

Bank of america seems to be did.

The u.s. government is becoming more confident.

These punishments for things that happened five years ago.

It is odd.

Halft the people i see were not in the company five years ago.

Who are you litigating against?

The staff is changed and the culture has changed.

We are concerned about compliance and having a more industrialized attitude towards banking.

$100 billion has been paid in fines by some of the major banks in the u.s.. that is the equivalent of the dividends for the last five years.

My asset allocation, i am reluctant to go with u.s. banks.

Is that too far?

What has happened in the past is far less important than the ongoing structural changes including less leverage.

If you have less leverage, you cannot make money lending.

That is a 22% net interest margin without leverage.

The balance sheets are much more serious.

I am more worried about these standard chances.

We all know that things happened that should not have happened.

Going forward, there is a question of how banks money -- banks make money.

Will it be growth management?

That looks like a very good place to be.

Stay with me.

This text has been automatically generated. It may not be 100% accurate.

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