Jamie Dimon spoke about witnessing a widespread loss of confidence in the recovery recently in an interview with The Atlanta Journal-Constitution. BusinessInsider reports thatThe CEO of JPMorgan Chase said that disillusionment is aimed in part at Wall Street. “If you are the average American citizen, you had to be looking at what happened and saying to Wall Street, ‘What happened? I thought you guys were smart.'”
And then he began to propose a solution for the crisis. He suggested that the only way to recover from that is by an improvement in the 9% unemployment number. Because of regulation, there's only so much banks can do. As for what the government can do, however, there are at least 3 things.
Fix the antiquated tax code. Major companies and small businesses are paralyzed by uncertainty because of future tax policy and pending regulation, he said, according to AJC.
Stop demonizing business. “I personally think the people who are busy demonizing business are doing it damage. Business is the economic engine.”
The biggest is 3., a new “Marshall Plan." He told the AJC that it would be a multi-pronged approach that would fix the national economy and get people working again.
Read more: http://www.businessinsider.com/jamie-dimon-how-to-fix-unemployment-marshall-plan-2011-10#ixzz1bo1Y5PNl
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