JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) does not expect the U.S. financial crisis to end soon and will remain very cautious, its top executive said in comments published by a German weekly on Saturday.
"We can only speculate how deep and how long the recession in the United States will really be and how that in turn will impact banks," James Dimon told "Welt am Sonntag".
"But we are not done with the crisis for a long time," Dimon said, adding that it was not the company's job to make bets on the future.
"Imagine we would need to walk up to our shareholders one day and say, sorry but the recession in the USA is so bad, we're broke. We need to be able to rule out at all times that it will not come to that," Dimon said.
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