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JPMorgan's Jamie Dimon says controlling capitalist companies is socialism not social democracy, sets record straight

Added 10-19-19 09:04:02am EST - “The straight-talking banking CEO is straightening out the true meaning of social policies.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “JPMorgan's Jamie Dimon says controlling capitalist companies is socialism not social democracy, sets record straight”. Below is an excerpt from the article.

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Hoover Institution Research Fellow Lanhee Chen provides his perspective on JPMorgan CEO Jamie Dimon's speech defending capitalism.

JPMorgan CEO Jamie Dimon made it clear that capitalism is "freedom of speech, freedom of religion and freedom of enterprise" and that socialism does not work in business.

“Governments taking control of assets and companies, they start to use companies for one thing only – keeping themselves in power, using the company’s assets to get votes,” he warned during a discussion with Morgan Stanley CEO James Gorman at the Institute of International Finance’s annual membership meeting.

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