Jamie Dimon predicts a bad recession and is hopeful serology testing allows people to start getting back to work in months ahead
Pretty good shareholder letter, as usual JPM is prepared to weather anything, but says things are going to get really bad when they have to give up their dividend payments (they’ve already halted buybacks)
-notes this is such an unprecedented situation and will share more detail about how bad they predict it will be during their q1 presentation
-hopes that the US can prepare enough tests to test everyone to allow people to slowly get back to work with the new distancing and hygiene practices in place
-repeatedly notes that the US was not prepared for this and is looking for financial regulatory reform in the future
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