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Jamie Dimon will eat more crow after Thanksgiving

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Jamie Dimon, chairman & CEO of JP Morgan Chase & Co., arrives to testify before a House Financial Services Committee hearing on "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 Years After the Financial Crisis" on Capitol Hill in Washington, U.S., April 10, 2019. REUTERS/Aaron P. Bernstein/File Photo

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MELBOURNE, Nov 25 (Reuters Breakingviews) - Jamie Dimon is eating crow for Thanksgiving. After initially trying to emphasise that he was just kidding in his comments read more on Tuesday about the Chinese Communist Party’s centennial, JPMorgan’s (JPM.N) boss got serious.

First, he expressed regret and explained that he was focused on his bank’s “strength and longevity.” Then he followed up with a second statement read more on Wednesday that “it’s never right to joke about or denigrate any group of people” as it “can take away from constructive and thoughtful dialogue in society."

Needing two cracks at defusing the situation makes clear just how serious the situation is for JPMorgan. The damage control probably isn’t finished yet either. After spending years building its presence in China, there’s a risk for the bank that Beijing takes offence and insidiously slows its progress. That makes it all the more likely that even after the U.S. holiday is over, Dimon will keep reminding President Xi Jinping just how grateful he is. (By Antony Currie)

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Editing by Jeffrey Goldfarb and Thomas Shum

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