JP Morgan Boss Warns of 'Consequences' if Burnham Taxes Banks The UK's new prime minister, Andy Burnham, has been warned by Jamie Dimon, CEO of JP Morgan, that raising taxes on banks could have dire consequences for Britain.
This is not a surprising development, given the City of London's history of reacting strongly to government attempts to regulate or tax its banking sector.
JP Morgan has been one of the biggest beneficiaries of London's favorable business environment and has consistently lobbied against increased regulation and taxation.