JPMorgan CEO , Predicts Panic As US , Approaches Debt Default.<br />On May 11, Jamie Dimon, the CEO of JPMorgan Chase, <br />said that markets will be affected by panic as <br />the U.S. nears a potential default on its sovereign debt.<br />CNBC reports that Dimon called a default <br />"potentially catastrophic" for the U.S. <br />while speaking to 'Bloomberg.'.<br />The closer you get to it, <br />you will have panic, Jamie Dimon, JPMorgan CEO, via CNBC.<br />He also predicted that lawmakers <br />will be forced to take action in order <br />to avoid the worst-case scenario.<br />CNBC reports that Dimon is just one of many business <br />leaders and officials to predict dire consequences if <br />the U.S. debt limit is not raised or suspended.<br />If it gets to that panic point, <br />people have to react, <br />we’ve seen that before, Jamie Dimon, JPMorgan CEO, via CNBC.<br />Panic becomes something <br />that is not good. It could <br />affect other markets <br />around the world, Jamie Dimon, JPMorgan CEO, via CNBC.<br />Dimon stressed that a default would send shockwaves <br />through the financial world, and urged politicians on <br />both sides of the political divide to reach a compromise. .<br />In the wake of three financial firms' collapse, Dimon said that <br />while regional banks remain "quite strong," bank runs <br />are likely to worsen as the potential default looms closer.<br />In the wake of three financial firms' collapse, Dimon said that <br />while regional banks remain "quite strong," bank runs <br />are likely to worsen as the potential default looms closer.<br />I think we have to assume <br />there’ll be a little bit more, Jamie Dimon, JPMorgan CEO, via CNBC
