JPMorgan Chase’s (NYSE: JPM) CEO Jamie Dimon is clearly a smart guy, but he may also be a smart liar. On CNBC, and other media, Dimon said that the accusations against the banks that they aren’t making loans are unfounded. Dimon said they lent out $100 billion in new credit in the fourth quarter.
Dimon is giving the impression to the market that JPMorgan hasn’t slowed down lending. How can this be? It just doesn’t make sense.
JPMorgan is now technically three companies combined: JP Morgan Chase, Bear Stearns and Washington Mutual.
