Jamie Dimon, CEO of JP Morgan, mentioned that the current wave of bankruptcies within the American auto sector reveals indicators of lax company lending requirements over the previous decade.
Dimon defined in an interview with CNBC on Tuesday that the collapse of First Manufacturers and Tricolor Holdings was the results of a protracted interval of uncontrolled credit score enlargement.
He added: “The credit score market has been increasing since 2010, and that is an early indicator that there’s some exaggeration there, and if we face an financial slowdown, we are going to see rather more credit score issues.”
